The 'Guarantee Claim' means registering a claim request under a guarantee/standby L/C  in the application with the Full undertaking amount or Partial amount of it. There is a possibility to request more than one claim under a guarantee/standby L/C.

Prerequisites to Raise a claim

• An existing Guarantee contract which is open and not closed.
• The open amount may not be zero and the number of pending claims must be less than 99.
• This transaction creates a new Guarantee Claim.
• Therefore no existing GuaranteeClaimcontract may le loaded.

Claim Types are classified into 

• Normal claim
• Extend or Pay”
  Claim just prior to expiry date with the request to extend or to pay.
• Claim/Payment under Cancelation”
  The guarantee is registered as closed directly after the claim has been paid.

To Register a claim for an existing open amount Guarantee contract, GITCRQ transaction is used.

Select it from the menu item[Guarantee Products -> Guarantees/Standbys -> Claim-> Receive Request of Claim]. 

(Users can directly start this transaction by clicking the  (Launch transaction ) available in the Panel headline without having to select the relevant menu) 

The 'Further processing' automatically defaults to the selection of the drop down value 'Register Settlement of Claim'.

When you have made your changes, click on the ( )  Save function to save all the the data entered in the transaction to the database.