Letter of Guarantee Status Inquiry
PRODUCTS / LETTER OF GUARANTEE STATUS INQUİRY
Letter of Guarantee Status Inquiry
Letter of Guarantee Status Inquiry (LGSI) is a KKB platform established to allow customers to verify the validity of the letters of guaranteed they have received. The service allows for rapid query of the letter of guarantee’s current status with parameters such as bank and branch code, serial number and amount, currency, and expiration date.
Established under KKB, TARDES enables institutions to select the decision-making process that is most suitable for their organization, with six lending models in 10 loan categories through its web service and web-based loan application screens. An agricultural loan solution service, TARDES provides the ability to query information from the Ministry of Agriculture and Livestock’s Farmer Registry System (FRS) and simultaneously assess multiple producers (families) collectively.
Institutions using the LGSI service can rapidly verify the validity of their letters of guarantee without having to contact the issuing bank.
Thus, LGSI enables institutions to both cut down on operational costs and save time.
In addition, LGSI helps identify any potential fraudulent activities involving letters of guarantee.
Who Can Use It & How to Use?
Banks, factoring companies and public agencies may use the Letter of Guarantee Status Inquiry service through either web application screens or web service integration, or a combination of both.
