Saving Excel files to a Read/Write only folder

I have a folder on a network that has read/write permissions to it. I cannot give modify or delete permissions for compliance reasons. When a user tries to save an Excel file using Save As an empty file is generated using the name they give it and then they are not allowed to save the file they generated as it has already been “saved”. I do not have this problem with other Office programs, just Excel. Is there something I am missing with Advanced Permissions or something I need to set in Excel?

Thanks