When designating a unit as a guarantor, administrators will have the option to grant Financier privileges to one, some, or all members of that unit, granting them equivalent user capabilities as a bank.
Once Financier privileges are assigned to users within this unit, and the unit is subsequently selected as the guarantor for a transaction, those users will gain the authority to perform bank-related actions on these transactions, mirroring the functions of a Bank-Clerk role. These actions may include releasing or rejecting a guarantee on behalf of their affiliated bank.
This enhancement expands the capabilities of the Financier role in the following manner:
Financier users will have the ability to perform bank-related actions on transactions even when the bank itself is not registered with RIVO, as long as their unit is serving as the guarantor for the transaction (in this scenario, the bank is also not registered).
It's important to note that administrators must proactively designate a user's role as a financier; the mere fact that their unit is functioning as a guarantor does not automatically confer financier capabilities."
The process for designating a unit as a guarantor follows this flow:
- Within the organization structure, when the Admin is configuring a unit, they can access a context menu option labeled 'Set unit as guarantor.' Upon selecting this option, a prompt will appear, requesting the entry of specific product details for which this unit will be authorized to function as a bank (e.g., Guarantee, Export LC, etc.).
- After the product details have been provided and saved, this unit will become visible as one of the available choices when, for instance, creating a guarantee (assuming 'Guarantee' has been selected as one of the supported products) and searching for the appropriate 'My bank' responsible for financing the guarantee.
Representation of a Unit as Guarantor in the My Bank/Issuing Bank Selection During New Guarantee/LC Issuance:
When initiating a transaction such as guarantee or LC issuance, the list of available options for 'My bank' or 'Issuing bank' should include the names of units that are functioning as banks. In this scenario, the unit's name should be displayed with the corporate organization name enclosed in brackets, like this: Unit name (Organization name).
Representation of a Unit as Guarantor in the 'My Banks' List Page:
Upon designating a unit as a guarantor, the system should include this unit in the administrative 'My banks' list, enabling the admin to configure this unit as a bank. In this context, the following details will be automatically inherited from the organization structure unit details (while the remaining fields will remain empty for the admin to complete):
- The unit's name (now serving as the bank's name) - this field is protected and cannot be altered.
- The list of products associated with this unit (bank).
Deletion of a Bank Functionality for Units Acting as Guarantors:
Deleting a unit, even when it is functioning as a bank due to its guarantor role, is permitted. This action, like removing any other bank from the 'My banks' list, will not affect the unit's status as a regular organizational unit. However, after deletion, the unit will cease to function as a bank, and to reinstate it, the admin must reconfigure it as a guarantor through the organization structure page.
As a result of this deletion, the unit will no longer appear in the list of 'My banks' or 'Issuing banks' when initiating a transaction.
Deals created with the unit-as-a-bank that has subsequently been deleted will exhibit the same behavior as if a typical bank had been removed from the 'My banks' list.
It's important to note that setting limits for this bank is not within the scope of this particular task.
Please refer to the animated GIF to understand how the guarantor feature operates in Guarantee Issuance.