Electronic Bank Guarantee (eBG)

What it does

When a bank issues an electronic guarantee in your favour through NeSL, this platform receives it at once, shows it to the right officers and keeps its status in step with NeSL. Invocation, amendment, renewal and closure are done from the portal with a digital signature, and every outcome goes into the audit history.

Who uses it

A maker creates and verifies the guarantee records over the NeSL connection. A checker approves the financial side and keeps policy compliance. A finance officer manages the ledger, validity dates and renewals, and a nodal officer owns the whole lifecycle, the escalations and the audit trail.

How it runs

NeSL sends an alert the moment an eBG is issued, the portal extracts the details and notifies the users, the detailed view fetches the latest status from NeSL over the API, the officer acts with an invocation, amendment, renewal or closure that is digitally signed, and the NeSL outcome updates the status and the audit history.

In government, and in a private business

For a department, a PSU or a utility that takes guarantees from vendors and contractors, the guarantee is in the system before the vendor has printed the confirmation, and the paper chase between bank, vendor and office disappears. The NeSL connection is built into the platform.

A large private buyer that takes guarantees from its suppliers can receive them the same way, if its bank issues through NeSL. The four roles stay the same, with the finance head as the nodal officer.

How it runs, step by step

1. NeSL notificationReal-time alert when an eBG is issued.
2. Display & alertPortal extracts details and notifies users.
3. Detailed viewFetch latest status from NeSL via API.
4. ActionInvocation, amendment, renewal or closure, digitally signed.
5. Status & loggingNeSL outcomes update status and audit history.