Manikandan Narayanan
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Articles
Recent activity by Manikandan Narayanan-
Reject claim under Standby LC
After a claim request is received under SBLC for payment, bank will register that claim request in RIVO on behalf of the beneficiary. And when the claim does not comply with the terms and condition...
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Pay claim under Standby LC
When a claim request is received under SBLC, then the bank will register that claim request in RIVO on behalf of the beneficiary and also further paying the standby LC claim for the document amount...
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Claim under Standby LC
When the applicant fails to honor the request for payment, the beneficiary will make a presentation for payment against the Standby LC. A beneficiary is typically only authorized to claim payment f...
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How to invite Banks/Parties to RIVO
The RIVO registered user is allowed to invite other non-registered parties (Banks/Corporates) to join RIVO. Banks: To invite other non-registered Banks, Go to the Administrator menu and Click on ...
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Registered Banks/Parties in RIVO
RIVO has a provision that the users can locate the entities (Banks/Parties) used in their business transactions that they have registered with RIVO or not. A tick mark () on the entities shows that...
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Bürgschaft vs Guarantee
The concepts ‘Guarantee’ and ‘Surety’ have very different legal implications under common law and often, indeed, as between different common law jurisdictions. Taking English law as a basis, a tr...
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How to Delete an ongoing deal in RIVO?
There is a possibility that the created deals can be deleted by the corporate user (applicant) at any time for several reasons. In RIVO, there is an option to delete the ongoing deals (Out going gu...
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How to download a transaction summary showing the Guarantee details?
The Guarantee information up to date is available to download in the summary format (PDF) by the RIVO users. The details of the Guarantee will be shown in simple manner that contains main informati...
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What is a Standby LC? Outgoing Standby LC in RIVO
A Standby Letter of Credit (SBLC / SLOC) is a guarantee that is made by a bank on behalf of a client, which ensures payment will be made even if their client cannot fulfill the payment. It is a pay...
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What is Organization Profile?
What is an Organization profile?The Organization profile is also called the company profile of any kind of Organization(Corporates/Banks). The main purpose of an organizational profile is to provid...