A proactive service for creating automatic requests to cancel/release bank guarantees in certain cases (e.g., cancellation of the tender, disqualification of the competitor, etc.).
Auto Cancellation for Letter of Guarantee is a service in Letter of Guarantee portal. The service shall automatically generate a Cancellation/Release requests on behalf of the user in specific cases.
These cases are:
- Tender status is cancelled, all linked Letter of Guarantee shall be automatically cancelled.
- Vendor doesn't win the tender, and initial guarantee should be released/cancelled.
For such cases, the system shall automatically generate a new Cancellation/Release requests in the portal. These requests will be sent to Bank User to do the due diligence procedures.
Request issuing a new Letter of Guarantee (for Banks):
1- Login into Etimad Portal
2- Enter Letter of Guarantee Service
3- View all requests made by system and select the request
4- View the request details and take the cancellation action.
5- System will automatically send a notification of the cancellation to both Private Sector (Vendor) and Government Sector.
1- Private Sector (Vendors) and Banking Sector should obtain a valid Etimad annual subscription.
2- User must have the required permission to access the service (permission name: إدارة الضمانات البنكية)
