Abdul Vaheed Email & Phone Number

Abdul Vaheed is a Trade Finance Officer (Guarantees) at Invest Bank.

• 

  Trade Finance Officer (Guarantees)

  Invest Bank

  Aug 2005 - Present - Sharjah Emirate, United Arab Emirates

  Letter of Guarantees Reviewing contract / project with customer with the help of RM/ARM to know customer requirement of guarantees under contracts / projects like bid bonds, advance payment, performance bond, retention bond, Financial, maintenance and payment guarantees. Prior to issuance of guarantees, sufficient funds are available in customer’s account to recover cash collateral, commission and other charges. Issuing Guarantees in English and Arabic. To check commission are as per credit facilities / sanction and make sure transactions meet regulatory and compliance requirements. Give comments on beneficiary’s guarantee texts and highlight the deviations with bank’s standard text. Explain points / risk raised by Invest Bank in beneficiary text to customers and convinces them to incorporate Invest Bank standard missing clauses in text, otherwise, coordinate with Credit department to get it approved. Follow-up for advance payment guarantee, upon receipt of AP funds, coordinate with RM/ARM to recover the cash collateral as per sanctions. Follow-up with customer / beneficiary for cancellation of expired guarantees. In case of auto renewable guarantees, where project / contract is already completed and beneficiary did not return the original guarantee for cancellation, guide customer in obtaining necessary mandatory documents require to cancel the guarantees like completion certificate, final acceptance certificate. Once require mandatory documents are obtaining along with customer’s written consent, guarantees to be cancelled. Promptly processes all guaranteed claims, to check claims are in accordance with guaranteed mandate, to correspondent with beneficiary if additional documents are required, to make timely payment once claim is in order.