The 'Liability Adjustment' is to adjust the internal entries on the Liability Panel for the Guarantee contracts. The Booking amount field changes the Liability amount without creation of new Amendment transaction.
When a negative amount is entered the current liability will be reduced by the amount and in case of positive amount there will be an increase in the current liability.
To do Liability Adjustment for the existing Guarantee contract, GITTEN transaction is used.
Select it from the menu item[Guarantee Products -> Guarantees/Standbys -> Other - > Liability Adjustment].
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.
The commission conditions can be changed if the function Change condition checkbox is activated.
The new condition is entered on the Liability Details Panel and the valid from date is to be specified to effect this changes.