# Bank Guaranties

_User Guide › Financial › Bank_

![Bank Guaranties](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/3f75e245d33a9f745b15d0d712b66c4c.png)
*L/Gs — Financial › Bank Guaranties*

## Overview

Use the Bank Guaranties register to review and manage L/Gs (letters of guarantee) used in financial operations. Finance officers use this register to locate an L/G, review its beneficiary, issuing bank, and values, and follow its progress through approval, running, return, and closure activities.

An L/G moves through the lifecycle from approval handling to **Approved, Running, Returned**, and **Closed**. It can also leave the normal lifecycle through rejected approval, cancellation, liquidation, or expiry.

## Before you start

- You must have access to **Financial > Bank Guaranties**.
- Have the L/G number, beneficiary, or issuing bank details available to help locate the required record.
- Where an L/G is awaiting manager approval, the manager must complete the approval action before the L/G can continue through the approval process.

## Steps

1. Navigate to **Financial > Bank Guaranties**.

   The **L/Gs** register opens.

2. Locate the required L/G in the register. Review the available information, including **L/G no., Benificiary, L/G issuer Bank, Requested value, Issued value**, and **Curre**.

   To narrow the register, enter identifying information in the **Search box**.

3. Use **Select** to choose the L/G that requires review or action.

4. When an L/G must be treated as not approved, select **Consider as not approved**.

   Use this action only when the L/G should no longer be handled as approved. An L/G that has one or more extensions or deductions cannot return to its initial requested condition.

5. Monitor the L/G through its business lifecycle:
   - An L/G proceeds to **Awaiting Approval** when approval is still required.
   - An approved L/G proceeds to **Running** for its active period.
   - After the guarantee has been returned, it becomes **Returned** and can then be **Closed**.
   - An L/G may instead become **Cancelled, Liquidated**, or **Expired**, depending on the applicable business action.

> **Warning:** Do not use **Consider as not approved** as a way to reverse an L/G with extensions or deductions. Such an L/G cannot return to its initial requested condition.

> **Note:** If editing is enabled for an Offer, the Offer must be approved again.

## Troubleshooting

| Symptom | Likely cause | Fix |
|---|---|---|
| The L/G cannot continue through approval processing. | The related Offer has not been approved. | Complete approval for the Offer before continuing. |
| Approval is still pending. | The Offer is awaiting approval from the manager. | Have the manager complete the approval action. |
| Related Order processing cannot continue. | The Order has not been accepted and confirmed. | Ensure that the Order is accepted and confirmed first. |
| The L/G cannot return to its initial condition. | The L/G has one or more extensions or deductions. | Continue managing the L/G from its current lifecycle position. |

## Result

You have located the required L/G, reviewed its financial details, and applied the available approval-related action where required.

## Related pages

- [Financial — Overview](doc:financial-overview)
- [Getting Started with Financial](doc:financial-getting-started)
- [Financial — Learning Path](doc:workflows-financial)
- [Receivables](doc:receivables-guide)
- [Payments](doc:finance-payments-edit-record)
- [Invoice](doc:finance-invoices-view-record)
- [Account Invoice](doc:finance-invoices-account-invoice-new)
- [Letters Of Guaranties](doc:finance-letters-of-guaranties-view-record)
- [Principal Invoices](doc:finance-principal-invoices-edit-record)