# Letters Of Guaranties

_User Guide › Financial_

![Letters Of Guaranties](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/946efa7904649a9e917a07af1cafb20f.png#atloria-annotations=%7B%22annotations%22%3A%5B%7B%22type%22%3A%22box%22%2C%22x%22%3A49.43%2C%22y%22%3A26.8%2C%22w%22%3A7.31%2C%22h%22%3A4.55%2C%22label%22%3A%225%20%20Save%22%7D%2C%7B%22type%22%3A%22marker%22%2C%22n%22%3A5%2C%22x%22%3A53.09%2C%22y%22%3A29.07%7D%5D%7D)
*Letters Of Guaranties*

![Save](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/524494d59229e2714c287403afa9eb19.png)

## Overview

Use the Letters Of Guaranties form to maintain a Letter of Guarantee (L/G), which records a bank-issued guarantee for a beneficiary. Finance officers use the form when an L/G is being prepared, reviewed, approved, monitored, returned, or closed.

An L/G progresses through review and operational stages, including **Awaiting Approval, Approved, Running, Returned**, and **Closed**. It can also leave the normal process as cancelled, liquidated, or expired where applicable.

## Before you start

- Sign in to the application before accessing L/G records.
- Ensure that you have access to the **Finance** area and to **L/Gs**.
- Have the required L/G information available before saving the form. The application validates required information when you save.

## Steps

1. Sign in to the application by entering your credentials in **Enter User Name** and **Enter Password**, and then select **Login**.

   ![Finance record](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/abd26ee807a727d176cb164b241d3752.png#atloria-annotations=%7B%22annotations%22%3A%5B%7B%22type%22%3A%22box%22%2C%22x%22%3A32.63%2C%22y%22%3A48.84%2C%22w%22%3A16.6%2C%22h%22%3A4.55%2C%22label%22%3A%221%20%20Login%22%7D%2C%7B%22type%22%3A%22marker%22%2C%22n%22%3A1%2C%22x%22%3A40.93%2C%22y%22%3A51.12%7D%5D%7D)
*Finance record*

![Login](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/30585e2ac0d66dd3b131d3c2f300731a.png)

2. On the main navigation bar, select **Finance**, and then select **L/Gs**.

   ![Finance record](https://atloriaassets.blob.core.windows.net/assets/a438221c-c1af-407c-b9e6-a56c986db846/fa5fc5b8ad76e4a079f9f8169df29767.png)
*Finance record*

3. Locate the required L/G record in the L/G list. The list displays identifying and financial information, including the L/G number, beneficiary, L/G issuer, bank, requested value, issued value, and currency.

4. Open the L/G form that you need to maintain. Complete the required information available on the form.

5. Select **Save** to validate and save the L/G form.

   The application checks required information before saving. If required information is missing, correct the form and select **Save** again.

6. Select **Save and Close** when you have completed the form and want to save the record and leave the form.

7. Follow the L/G approval and operational process as applicable:
   - An L/G requiring review moves to **Awaiting Approval**.
   - When approval conditions are met, the L/G can become **Approved**.
   - An approved L/G proceeds to **Running** for active management.
   - After the guarantee is returned, it becomes **Returned** and can then be **Closed**.
   - An L/G may instead be cancelled, liquidated, or expire when those outcomes apply.

8. If you need to mark an L/G as not approved, use **Consider as not approved** where this action is available. Review the L/G carefully before taking this action.

> **Warning:** If an L/G has one or more extensions or deductions, it cannot be reverted to its initial requested stage.

> **Note:** Leaving the form with unsaved changes displays a warning. Save the record before leaving the form when you want to retain your updates.

> **Tip:** If editing is enabled for an offer that is already in the approval process, the offer must be approved again.

## Troubleshooting

| Symptom | Likely cause | Fix |
|---|---|---|
| The L/G form does not save. | Required information is missing or is not valid. | Complete the required information on the form and select **Save** again. |
| You receive a warning when leaving the form. | The form contains unsaved changes. | Select **Save** to retain the changes, or leave the form only if the changes are not required. |
| The L/G cannot be returned to the initial requested stage. | The L/G has one or more extensions or deductions. | Continue managing the L/G in its current process stage. |
| Approval cannot proceed. | The L/G is still awaiting the required approval. | Keep the L/G in **Awaiting Approval** until the appropriate approval is completed. |

## Result

The L/G record is saved and can continue through the applicable approval, running, return, and closure process.

## Related pages

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