The Guarantee Application is sent by the corporate (Applicant) to its bank to request the bank to submit an application for bank review to issue a Guarantee on behalf of the corporate in favor of the Beneficiary. If applicable, the request may indicate that the Guarantee is to be advised to the Beneficiary via a third-party bank, normally in the beneficiary's country of domicile (i.e. Advising Bank). This application may also serve as an instruction to the bank to issue a Counter-Guarantee to a Local issuing bank requesting them to issue a local-Guarantee in favor of the Beneficiary against its counter-liability.
In RIVO the Guarantee Issuance Application step allows the user(s) to draft a Guarantee Application and send it to Bank.
Follow this article to learn How to enter basic details for guarantee issuance