Product | Dorian Techno

Bonds & Guarantees Management System

BGMS is a distributed application that runs on the Corda platform. Some of the important characteristics of this platform are:

Shared facts & their evolution are stored immutably in a distributed, secure ledger
Data is shared on a need-to-know basis & peers only see what they need to see
Facts recorded are regarded as authoritative, eliminating the need for bilateral reconciliation
Direct point-to-point communication between participants with highest levels of privacy, security, without data leakage

The Bonds & Guarantees Management System provides intra-company workflows to manage the entire life-cycle of a bond, e.g. request, approval, issuance, expiry, cancellation & renewal.
Bank’s own custom workflow for the issuance of a bond or guarantee can be included in the system
Bond requests can be sent from the company to bank within the system itself and are almost instantly visible to bank; after undergoing the bank workflows an issued bond is notarized and distributed almost instantly to the concerned parties across the network
Dashboards provide the company a means of accurately tracking & reporting its contingent liabilities; beneficiaries too can get an overview in the system of all bonds in their favor.
Secure storage of legal documents in the Corda vault for viewing/download by all involved parties.
Tracking of utilization of bank facilities against bonds

Comes with the inherent benefits of the Corda DLT platform
Cost savings due to standardization of processes, elimination of reconciliation
Cost savings due to optimal use of bank facilities
Offers a direct alternative to the disparate legacy systems and thus removes costly frictions in business transactions, unnecessary costs, risks and inefficiencies
Easily scale-able to include new participants