The Absa Guarantee Hub: Requesting Attorney

The Absa Guarantee Hub: Requesting Attorney
LEARNING OUTCOMES
The purpose of this presentation is to introduce you to the Absa Guarantee Hub and to familiarise new users with
the basic process for handling electronic guarantees. This presentation consists of the following:
•
Introduction
•
Requesting a Guarantee
•
Editing a Request
•
Using the Comments Functionality to Communicate with the Bond Attorney
•
Searching and Navigation
•
Receiving and Distributing Issued Guarantees
•
Customer Support
PLEASE NOTE:
This guide gives a very general overview of the functionality available on the website. You will probably find it easier
to use the Absa Guarantee Hub via a conveyancing software package integrated to the Absa Guarantee Hub.
If you are using such a package, your software vendor may have more specific and detailed training material.
INTRODUCTION
The Absa Guarantee Hub is a system that automates and manages the process for requesting and issuing
guarantees for Absa Home Loans. The electronic process is modelled on the existing practice of:
•
Requesting guarantee requirements
•
Capturing the required payments
•
Generating the required guarantees and having these issued by an authorised signatory
•
Distributing the guarantees to the requesting party
DIFFERENCES
The primary differences between the existing paper-based process and the Absa Guarantee Hub are the
following:
•
All email communication relating to guarantee requirements between the Bond and Transfer
Attorneys to be replaced with communication and document sharing on the Absa Guarantee Hub for
increased security, traceability and transparency.
•
All guarantees issued against registration of an Absa bond will be issued on the Absa Guarantee Hub.
The objective of this is to give the Bank complete oversight of the guarantee issuing process from the
initial instruction through to registration. To enforce this, provision all guarantees will be issued on
the Absa Guarantee Hub and (where acceptable to beneficiary Banks) signed electronically by the
Absa Guarantee Hub. The result is a digitally signed electronic guarantee that can be distributed
electronically.
•
Guarantees are issued by authorised signatories at the Bond Attorney Firm (or by Bank signatories)
that are authenticated on the Absa Guarantee Hub using their digital certificate. This process is much
the same as in internet banking, where an authorised person is required to login to a secure website
to release (authorise) payments.
LOGGING IN TO THE ABSA GUARANTEE HUB
1.
Once you have received the guarantee
2.
requirements, login to the Absa Guarantee Hub
Enter your username and password, and click
Login.
as the requestor, using your digital certificate.
1
2
Your certificate is
automatically detected
when you navigate to the
web address.
CREATING A GUARANTEE REQUEST
On the Requests screen:
•
Click the Add Request
button to create a new
request.
1
On the Bond details
confirmation screen:
•
Enter the Bond Reference
number and click Confirm.
2
•
Ensure that the Bond
Reference number is
entered correctly (an error
will pop up if it is incorrect).
CREATING A GUARANTEE REQUEST
You have now successfully linked to
the bond matter and can proceed to
add your details for the Bond Attorney
3
to see.
Capture your Role in the transaction
as well as a Subject and your File
Reference and click Create Request.
The Subject and File Reference are
for display purposes and allow you to
easily find you matter.
4
These details can be changed later via
the Edit Request button, as discussed
in the following screens.
Matter ref: Boyd/Kitshoff Guarantee Request
REQUESTS SCREEN
After creating the request, you are directed to the
Request screen.
The Request screen has a shared view where you
and the Bond Attorney can see each other’s details,
share documents and write messages for each
other.
To share documents, select Add Attachments.
The following three documents are usually required
by the Bond Attorney to proceed with drawing
Draft Deed of Transfer
documents:
Attachment added: ‘Draft Deed of Transfer’
•
Guarantee requirements (letter detailing your
requirements)
•
Cancellation figures
•
Draft deed of transfer
Post a comment to add a message or comment for
the Bond Attorney.
(All events are recorded in the conversation thread,
providing a transparent history to both Attorneys.)
NAVIGATION
Once you have created a Guarantee Request, you may need to access the matter again to make changes, attach
additional documentation or receive and distribute the issued guarantee.
On the Requests screen:
•
To find the relevant request,
you can filter by Status, or you
can enter a reference, subject
or Attorney in the Search text
field and then click Search.
•
The Status filter options are:
All statuses, Declined,
Requested and Withdrawn.
•
Simply click the request to
open it and access editing,
documents and
communication options.
RECEIVING YOUR GUARANTEES
•
Any updates to the request,
(e.g. if a new comment or
document is added by the
Bond Attorney, or if the
guarantee is issued), are
indicated by a blue message
icon next to the request.
Attachment added: ‘Draft Deed of Transfer’
•
Once the guarantee has
been released by the Bond
Attorney, it will be available
to you on the Requests
screen, below the attached
documents. There will also
be a green notification bar in
the comments section of the
Requests screen.
Draft Deed of Transfer
VERIFYING AUTHENTICITY OF A DIGITAL SIGNATURE
The guarantees will reflect the digital signature by the Absa Guarantee Hub in the blue signature panel of the
PDF document and will display the details of the authorised signatories who issued the guarantee in the red grid
at the foot of the guarantee.
NOTE: These guarantees must be shared electronically rather than in printed format.
For more information on identifying a legitimate digitally signed guarantee, please refer to the Resources
section on the Absa Guarantee Hub homepage (https://absaguaranteehub.korbitec.com), or click the following
link: How to identify a legitimate guarantee.
Example
CUSTOMER SUPPORT
Please contact the Korbitec Support Team during office hours, should you require assistance.
The Korbitec Support Team is contactable telephonically on 0861 567 248, or via email at [email protected]
Thank You