Request and issue the letter of guarantee [AX 2012]

Updated: February 1, 2013

Applies To: Microsoft Dynamics AX 2012 R3, Microsoft Dynamics AX 2012 R2, Microsoft Dynamics AX 2012 Feature Pack, Microsoft Dynamics AX 2012

You can create letter of guarantee requests from a sales quotation, sales order, project quotation, project, or purchase order. When a request is created, you must submit it to the bank for approval. When you receive the bank’s approval, you can issue the letter of guarantee to the beneficiary.

Use the Create quotation, Sales quotation, Sales order, Purchase order, or Project details forms to request a letter of guarantee. After you make the request, use the Letter of guarantee form to submit the request to the bank for approval. Upon approval, you can use the Letter of guarantee form in Bank to issue the letter of guarantee to the beneficiary.

Click Procurement and sourcing > Common > Purchase orders > All purchase orders. Select a purchase order line and on the Action Pane, on the Manage tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales quotations > All quotations. Double-click a sales quotation line to open the Sales quotation details form. On the Action Pane, on the Quotation tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales orders > All sales orders. Double-click a sales order line to open the Sales order details form. On the Action Pane, on the Manage tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales quotations > All quotations. Double-click a project quotation line to open the Project quotation details form. On the Action Pane, on the Quotation tab, in the Bank document group, click Letter of guarantee.

–or–

Click Project management and accounting > Common > Projects > All projects. Double-click a project line to open the Project details form. On the Action Pane, on the Project tab, click Letter of guarantee.

  1. In the New group, click Request to open the Create letter of guarantee request drop dialog.

  2. In the Type field, select the reason code for the letter of guarantee.

  3. In the Value field, enter the letter of guarantee value. In the Currency field, the currency of the letter of guarantee is updated.

  4. In the Expiration date field, select the date when the letter of guarantee will no longer be valid. The expiration date is defined in the letter of guarantee agreement and must be later than the current date.

  5. Click OK to create a letter of guarantee request. The Facility status field of the request is updated to Requested.

  6. Close the forms to save your changes.

  1. Click Cash and bank management > Common > Letters of guarantee.

  2. On the left pane, select the request with the status Request and click Submit to bank to open the Submit letter of guarantee to bank drop dialog.

  3. In the Bank account field, select the bank account associated with the facility agreement.

  4. In the Facility type field, select the facility type for which the letter of guarantee is requested. The facility agreement number is updated in the Facility agreement field.

  5. Click OK to submit the request to the bank. The Facility status field of the request is updated to Submitted to bank.

  1. Click Cash and bank management > Common > Letters of guarantee.

  2. On the left pane, select the request with the status Submitted to bank and click Receive from bank to open the Receive letter of guarantee from bank drop dialog.

  3. In the Bank number field, enter the bank account number as it appears in the letter of guarantee. The monetary value and expiration date of the letter of guarantee are updated in the Value and Expiration date fields.

  4. In the Margin field, enter the margin amount reserved by the bank. The margin amount is calculated as the value of the letter of guarantee multiplied by the percentage specified in the Cash margin field in the Bank facility agreements form and displayed in this field. If you have specified a fixed amount in the Bank facility agreements form, the amount is displayed here. You can modify the amount if required.

  5. In the Expense field, enter the miscellaneous charges incurred on the letter of guarantee. The expense amount is calculated as the value of the letter of guarantee multiplied by the percentage specified in the Issuance commission field in the Bank facility agreements form and displayed in this field. If you have specified a fixed amount in the Bank facility agreements form, the amount is displayed here. You can modify this amount if required.

  6. Click OK to receive the letter of guarantee from the bank. Journal entries are posted to the accounts specified in the Bank documents posting profile form using the daily journal specified in the Transaction journal field in the Cash and bank management parameters form. The Facility status field of the request is updated to Received from bank.

Click Procurement and sourcing > Common > Purchase orders > All purchase orders. Select a purchase order line and on the Action Pane, on the Manage tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales quotations > All quotations. Double-click a sales quotation line to open the Sales quotation details form. On the Action Pane, on the Quotation tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales orders > All sales orders. Double-click a sales order line to open the Sales order details form. On the Action Pane, on the Manage tab, in the Bank document group, click Letter of guarantee.

–or–

Click Sales and marketing > Common > Sales quotations > All quotations. Double-click a project quotation line to open the Project quotation details form. On the Action Pane, on the Quotation tab, in the Bank document group, click Letter of guarantee.

–or–

Click Project management and accounting > Common > Projects > All projects. Double-click a project line to open the Project details form. On the Action Pane, on the Project tab, click Letter of guarantee.

  1. Click Give to beneficiary to open the Give letter of guarantee to beneficiary? drop dialog.

  2. Click OK to create a request to issue the letter of guarantee. The Facility status field is updated to Request give to beneficiary.

  1. Click Cash and bank management > Common > Letters of guarantee.

  2. On the left pane, select the request with the status Request give to beneficiary and click Give to beneficiary to open the Give letter of guarantee to beneficiary? drop dialog.

  3. Click OK to issue the letter of guarantee to the beneficiary. The status of the request is updated to Given to beneficiary.


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