How Guarantee Vault works:
Application
Applicants send standardized guarantee issuance requests to guarantors
Guarantors receive & review guarantee issuance requests
issuance
Guarantors issue digital guarantees and send them to the beneficiary
Applicants & Beneficiaries access digital guarantees instantly at source
post-issuance
Applicants & Beneficiaries can send post-issuance requests directly on digital guarantees stored in the vault (including amendments, releases, claims)
Guarantors can execute post-issuance requests (changes) on digital guarantees
Safekeeping & Legal Validity
All participants have access to historical data even after closure of a guarantee. Digital Guarantees issued via the Guarantee Vault hold the same legal validity as their traditional paper guarantee counterpart, as long as they comply with the formal requirements of the respective jurisdiction.