If the collateral type is Letter of Guarantee, detailed information is recorded using the Letter of Guarantee Info option on the collateral entry window.
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Type: Indicates the type of the letter of guarantee. This field contains the following options:
- Temporary
- Advance
- Definite
The related type is selected.
Duration Info: Indicates the duration of the letter of guarantee. This field contains the following options:
- Indefinite
- Time-Bound
When Indefinite is selected, data can be entered on the end date field on the collateral general info tab.If Time-Bound is selected, the end date is not entered.
Commission Type: Indicates the commission type for the collateral. This field contains the following options:
- Rate
- Fixed
When Rate is selected, the rate to be applied is specified on the commission rate field.When Fixed is selected, the commission rate is specified on the commission amount field as a fixed amount.
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Customer Collateral Commission Payer: Indicates the entity who will pay the received collateral commission.
This field contains the following options:
- Customer
- Company
If Company is selected, the bank account from which the payment will be done is specified on the Commission Payment Account field.