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Absa Guarantee Hub: Bond Attorney July 2013


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Table of Contents INTRODUCTION ....................................................................................................................................................... 2

SYSTEM REQUIREMENTS ...................................................................................................................................... 2

SETTING YOUR ABSA GUARANTEE HUB CERTIFICATE .................................................................................... 2

Process Overview ...................................................................................................................................................... 3

CAPTURING GUARANTEES – GHOSTCONVEY.................................................................................................... 5

REQUESTING GUARANTEES ................................................................................................................................. 6

Editing the Pay Authorities ......................................................................................................................................... 6

ACCESSING THE GUARANTEE HUB – REQUESTER ........................................................................................... 7

ACCESSING THE GUARANTEE HUB – ISSUER .................................................................................................... 8

Logging on to the Guarantee Hub using your internet browser................................................................................. 8

VIEWING THE BOND DETAILS ............................................................................................................................. 10

Using the Notify feature ........................................................................................................................................... 11

Statuses ................................................................................................................................................................... 12

GUARANTEE DETAILS .......................................................................................................................................... 13

Viewing details of a request ..................................................................................................................................... 13

ISSUING OF GUARANTEES .................................................................................................................................. 14

DUAL VS SINGLE SIGNATORIES ............................................................. ERROR! BOOKMARK NOT DEFINED.

VIEWING THE ISSUED GUARANTEE ................................................................................................................... 16

DECLINING A GUARANTEE .................................................................................................................................. 18

ESCALATING A GUARANTEE REQUEST TO THE BANK ................................................................................... 19

CANCELLING A GUARANTEE ............................................................................................................................... 20

Cancellation letter .................................................................................................................................................... 22

SENDING THE ISSUED GUARANTEE TO THE RECIPIENT ................................................................................ 23

VIEWING ALL BONDS ............................................................................................................................................ 24


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Introduction

The Absa Guarantee Hub is a system that automates and manages the guarantee requesting and issuing

process for Absa Home Loans.

It allows an Attorney requesting guarantees (typically the Bond Attorney) to capture and issue the guarantees

required against a particular home loan application, subject to the Bank’s business rules, all the while giving the

Bank supervisory overview and control.

Guarantees are issued as electronic documents – digitally signed PDFs. The digital signature verifies that the

document was issued by the Guarantee Hub and that it has not been tampered with after being issued.

System Requirements

Your system will need to comply with the following minimum operational prerequisites to run the Absa Guarantee

Hub:

GhostConvey v14.6.7 or higher

Any recent internet browser, e.g. Internet Explorer 8 or higher, Firefox, or Google Chrome

Adobe Reader 6 or higher

Setting your Absa Guarantee Hub certificate

If you have been issued a Korbitec Gateway certificate for use with the Absa Guarantee Hub, you can set it in GhostConvey in the same way that you set your Bond Centre certificates:

Click on Setup to view the My Settings page.

Click on Select next to

Guarantee Hub, and then select your Korbitec Gateway certificate from the popup window.


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Process Overview

A Transfer Attorney typically furnishes guarantee requirements to the Bond Attorney. Based on these

guarantee requirements and the amount and type of bond instruction, the Bond Attorney is able to issue a

guarantee for payment of the amounts required, against the registration of the mortgage bond in the Deeds

Office.

The diagram below compares the new Guarantee Hub process with the old manual process.

The REQUESTER of the guarantee uploads the request to the Guarantee Hub. The Requester is typically the

person who captures the bond and ATP details in GhostConvey, usually a Paralegal/Conveyancing Secretary.

The ISSUER of the guarantee will, once he/she has confirmed that the guarantee details are in order, authorise

the issuing of the guarantee. The Issuer is the person who is authorised by Absa Bank to “sign off” on

guarantees in terms of the Power of Attorney (POA) entered into between the Firm and the Bank. Typically, this

would be the Conveyancer.


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The following table sets out the permissions that are assigned to the Requester and Issuer and should be used

as a guideline when working with guarantees:

Requester

Captures the bond in GhostConvey, including the completion of the Pay Authorities tab

and any guarantees required

Uploads the guarantee requests to the Guarantee Hub

Can view/print/save and otherwise distribute issued guarantees

Issuer

Issue or decline the guarantees

Escalate to Absa Attorney Consultant

Cancel an issued guarantee

The remainder of this guide explains each of these steps in more detail.


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Capturing Guarantees – GhostConvey

Before you can request guarantees, it is necessary for you to thoroughly complete the Pay Authorities tab in

GhostConvey. The information that is completed on the Pay Authorities tab will be used to complete the

corresponding fields on the Guarantee Hub.

Once you have captured the necessary information under the Pay Authorities tab, you are

ready to request the guarantees.

Click the button on the toolbar once you are ready to submit your requests.


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Requesting Guarantees

When clicking the button, the Guarantee Request confirmation dialogue box will appear on your

screen. This confirms which requests have been successfully uploaded.

Editing the Pay Authorities

Things to remember when making changes to your pay authorities:

Changes can be made at any time prior to the guarantee being issued

Clicking the Request guarantees button will update any changes you made

Once a guarantee has been issued, further changes are no longer possible


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Accessing the Guarantee Hub – Requester

The following steps illustrate how to access the Guarantee Hub from within GhostConvey:

1. Open the relevant bond matter in GhostConvey.

2. Click the Guarantee Hub button on the toolbar.

3. You may be prompted to select a certificate. If you have a Guarantee Hub certificate, select it and click

OK on the Windows Security dialogue box, or click Cancel.

1

2

3


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Accessing the Guarantee Hub – Issuer

As the Attorney user, you can access the Guarantee Hub using either of the following methods:

From within GhostConvey, by clicking the button and logging on with your digital certificate

By navigating to the location from your internet browser

You can accordingly view, issue, decline or cancel guarantees as needed, using either logon method.

Logging on to the Guarantee Hub using your internet browser To access the Guarantee Hub with your internet browser you must have the following:

A valid digital security certificate installed on your workstation

A user account set up by Korbitec

Follow these steps:

1. Open your browser window and type the following URL into the address bar at the top of the screen:

https://absaguaranteehub.korbitec.com

2. Press Enter, to navigate to this location

3. Select your digital certificate from the Windows Security dialogue box and click OK.

https://absaguaranteehub.korbitec.com/


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4. This will take you to the logon screen. Enter your User name (your email address) and Password and

click the Log On button.

5. This will take you to the Bonds view which displays all your bonds on the Guarantee Hub including a

view of account numbers, parties, amounts available for guarantees, amounts committed, amounts

requested and statuses.

6. Once you have located your bond instruction, click the matter to open it.


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Viewing the Bond Details

View requested guarantees by clicking the Preview

button.

The Bond History section is a record

of all activities relating to the requesting/issuing of guarantees

The interest, in terms of the guarantees required, will be forecasted daily under the Projected Guarantee Values section.

Click Notify to send

the Bond Attorney (Issuer) an email notification that there are guarantees to be issued.

The Summary section reflects

the distribution of the bond proceeds.


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Using the Notify feature

Once all the requests have been uploaded to the Guarantee Hub, you can click the Notify button to send an

email to an Issuer, informing them that the guarantees are ready for issuing.

This will display the Email Notification screen as shown in the example below:

Click the drop-down arrow to select a recipient from the list that is displayed.

The default text in the Message box is

editable and can be adapted as needed.

The email will include a link to the bond in the Guarantee Hub.

Click the Send button to send the email, or click Return to return to the Bond details screen.


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Statuses

Each request will have one of the following statuses:

Status Status Description

Draft New request created by Requester but not yet submitted.

Requested The request has been submitted but not yet actioned by the Bond Attorney.

The guarantee can be printed but will not be digitally signed.

Issued The guarantee has already been issued. The guarantee can be printed and will

be digitally signed.

Escalated The bond has been escalated for the Bank’s attention.

Declined Waiting for the requesting Attorney to amend data and re-request

E.g.: Our test guarantees are in a requested status.


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Guarantee Details

Viewing details of a request

Clicking on a guarantee in the list will display the Guarantee details screen. This screen shows information

regarding the guarantee’s credit account and interest.

The actions you can perform on this screen will vary according to the status of the guarantee.

When accessing a requested guarantee, you are able to Issue or Decline the guarantee.

All fields under Credit Account details are mandatory.

The number of interest variations on your guarantee will be displayed here in the order in which they appear on the guarantee.


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Issuing of Guarantees

Guarantees can be issued when the following requirements have been met:

The account to be credited with the proceeds of the guarantee must be a valid credit account

The total amount must be less than the amount available for guarantees under the bond

The total amount per bond instruction must be less than the Power of Attorney limit.

1. When accessing a guarantee that is in the Requested state, the Guarantee details screen will

appear.

2. After clicking on the Authorise button the Authorise Guarantee Confirmation screen is

displayed, prompting you to confirm whether the guarantee must be authorised.

Click Confirm to authorise the guarantee, or click Return to return to the Guarantee details screen

Only the signatories who are authorised in terms of the Power of Attorney, may issue, decline or cancel guarantees.

You now have the option to either Decline or Authorise the guarantee

request.


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3. The following screen will be displayed if the guarantee was authorised successfully. Click the

Return button to return to the Guarantee details screen.

4. The request will now be in an Authorised state. One of the other firm signatories would now follow the same process, except that they would see an Issue button instead of the Authorise button. After the Guarantee has been issued, it will be available for distribution to the requesting attorney.

Single Signatory Firms

Many attorney firms have a rule that requires all guarantees to be issued by two signatories, rather than just one.

The 2-step Authorise and Issue process described above is designed to satisfy this requirement.

If your firm only has 1 signatory, you will need to Authorise the guarantee request(s) as described above, then

Escalate the matter to your Attorney Consultant, who will be able to issue the guarantee.

For printed guarantees that need to have only one signature line, where the recipient bank does not accept a

digitally signed guarantee, contact the Korbitec Customer Service Centre for assistance in reducing the signature

lines to one.


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Viewing the Issued Guarantee

The issued guarantee can be previewed by doing one of the following:

(a) Clicking on the button on the Guarantee details screen

(b) Clicking on the icon on the Bond details screen

Click the View issued button to open a PDF copy of the guarantee.

Click the PDF button to open a PDF copy of the guarantee.

(a)

(b)


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Click Open on the File Download pop-up box. A PDF document will open in a separate window as shown below.

You can also opt to save a copy of the guarantee to a location on your PC.

The guarantee will be electronically signed by the Absa Guarantee Hub, thus preventing any person from tampering with it.

Click the Signature Panel button to view

the details of the electronic signature.


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Declining a Guarantee

If the Bond Attorney is not satisfied that the request is correct, he/she can decline the request by clicking the

Decline button.

On the Guarantee details screen,

select the Decline option.

Specify a reason for declining the request in the Reason box.

Once done, click

Confirm to continue.


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Escalating a Guarantee Request to the Bank

E.g.

Escalating a bond will change its status to Escalated, thus enabling the Bank to identify and action it.

The button is available on the Bond details screen below the list of requests.

The guarantee must be escalated when the guarantee amount exceeds the Attorney’s Power of

Attorney amount or, in some other exceptional circumstances, such as when an amendment to the

registration conditions is made as shown below.


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The Success screen will appear, indicating that the bond has been escalated successfully.

Cancelling a Guarantee

Cancellation of a guarantee occurs after the guarantee has been issued. Access a guarantee with an Issued

status and click on the Cancel button.

Click Confirm to continue.

You will be prompted to confirm that you wish to escalate the bond.


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The Success screen will be displayed confirming that the guarantee was successfully cancelled.

Click the button to take you back to the Guarantee details screen.

You will note that the guarantee status has changed to Cancelled and that there is a new button.

You will be prompted to confirm that you wish to cancel the bond.

Specify a reason for the

cancellation and click Confirm.


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The amount available for guarantees under Projected Guarantee Values will be updated to include the amount

of the cancelled guarantee – this will appear as the Remaining amount.

Cancellation letter

A cancellation letter will need to be sent to the requesting Attorney to inform him/her that this guarantee has been

cancelled. The Attorney will need to acknowledge this and resend the request.

To download the letter, click the button. This will prompt you to open or save the letter in PDF format.

Click the Open button to view the letter.

The reason for the cancellation of the guarantee is reflected on the letter.


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Sending the Issued Guarantee to the Recipient

As mentioned, the guarantee is a PDF file with the embedded digital signature that constitutes the legally valid

guarantee; it is not a printout of the PDF. To email the guarantee to the Requester, select it from the

GhostConvey PrintList where it will be located under Documents for signature.

Alternatively, right-click the selected

document and select Email.

Highlight the guarantee on the PrintList and select the email selected documents icon

on the toolbar to send it as an attachment.

Once issued, the digitally signed guarantee is available on the GhostConvey PrintList.


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Viewing All Bonds

NOTE: You must click the icon to refresh the view after making any filter changes.

Click the Bonds button to display a list of all bonds.

You can sort each column to display in ascending or descending order by clicking on the column heading.

Click the Bond status drop-down arrow

to view bonds in a particular state. Click the Guarantee status drop-down arrow to

view guarantees in a particular state.