1. Bank who uses ELCY

The bank should Acknowledge your guarantee application, then either Issue the guarantee or Reject the guarantee.  If they issue it, they will usually place a copy of the issued document or their indemnity onto ELCY.

The bank may also send an eXchange message about the transaction – an internal ELCY email.  Again, you will get an alert about this and should read the message immediately in case it is important.

If you need to query something with the bank, send them an eXchange message.

When a transaction status is changed, the system sends alerts to all users.

2. Banks not on ELCY

Further communications about the guarantee application may be outside of ELCY.  

The bank may also send a SWIFT message about the transaction.  Again, you will get an alert about this and should read the message immediately in case it is important.

If you need to query something with the bank, send them an eXchange message, which will be sent to the bank via SWIFT.

When the guarantee is issued, you should upload a copy of the document by going to Import Workbench, Import Transaction List.  Find the right guarantee and click on the system reference to display it.

On the left hand side is the option to Upload Issued Copy. Check the issued amount and expiry date are as expected.

Enter the correct Issue/Effective date. Attach a copy of the guarantee if required (pdf or txt only). And enter the bank’s reference and any comments, then click on Upload Bank Issued Copy.