Guarantee Management in BDS Baupaket V5
The program manages guarantees for contract-performance and warranty retentions regardless of whether a bank or insurance company acts as the guarantor. It distinguishes between guarantees received and issued as well as guarantee types such as the replacement of cash retentions or performance bonds.
Ongoing management of deadlines helps to avoid expired letters of guarantee from subcontractors and resulting costs arising from guarantee claims.
Guarantees Issued
- With the recording of the guarantee, the application is created with the corresponding institute
- The obligation per institute (banks, insurance companies) is continuously maintained
- The guarantee application is confirmed by the institute and receives this status in the program
- Changes (increases, reductions) can be carried out quickly
- The history of this guarantee is documented
- The maturity of the guarantee is continuously managed (when the guarantee expires)
Received Guarantees
- The guarantee is received from the supplier and is recorded
- Continuous tracking according to the criteria supplier, for which construction project, etc.
- Simple recording of changes (increases, reductions)
- Management of maturities with the resulting consequences
- When which guarantee expires
- For which construction site (information for the site manager)
- Is any guarantee-related work still outstanding
- Should the guarantee be claimed
Workflow Extension
Guarantee Management with Schedule and Deadline Workflow
The workflow supplements guarantee management with a structured process for monitoring schedules and deadlines. This way, expiring guarantees issued and received as well as the necessary processing in connection with construction projects remain traceable.