Standards

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Category 7 - Documentary Credits and Guarantees

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For Standards MT November 2008 RS
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Message Reference Guide

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This reference guide contains the category 7 message text standards, including a detailed description of the scope, the
format specifications, the rules, the guidelines, and the field specifications of each message type.
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19 September 2008
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Legal Notices
Copyright

Copyright © S.W.I.F.T. SCRL ("SWIFT"), Avenue Adèle 1, B-1310 La Hulpe, Belgium, or its licensors, 2008.

All rights reserved. You may copy this publication within your organisation. Any such copy must include these legal notices.

Confidentiality

This publication may contain SWIFT or third-party confidential information. Do not disclose this publication outside your
organisation without the prior written consent of SWIFT.

Disclaimer

The information in this publication may change from time to time. You must always refer to the latest available version.

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SWIFTStandards Intellectual Property Rights (IPR) Policy - End-User License Agreement

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SWIFTStandards are licensed subject to the terms and conditions of the SWIFTStandards IPR Policy - End-User License
Agreement available at www.swift.com > Standards > More information.

Translations RS
The English version of SWIFT documentation is the only official version.

Trademarks and Patents

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SWIFT, S.W.I.F.T., the SWIFT logo, Sibos, SWIFTNet, SWIFTAlliance, SWIFTStandards, SWIFTReady, and Accord are
trademarks of S.W.I.F.T. SCRL. Other SWIFT-derived service and product names, including SWIFTSolutions,
SWIFTWatch, and SWIFTSupport are tradenames of S.W.I.F.T. SCRL.

SWIFT is the trading name of S.W.I.F.T. SCRL.

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Other product or company names in this publication are tradenames, trademarks, or registered trademarks of their
respective owners.
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2 Message Reference Guide

 Table of Contents

Table of Contents
Legal Notices ............................................................................................................................................. 2
Introduction ................................................................................................................................................ 7
Overview ............................................................................................................................................... 7
Changes ............................................................................................................................................... 7
Volume Formatting Explanation............................................................................................................ 7
Euro - Impact on Category Message Standards.................................................................................10
Part 1 Documentary Credits .................................................................................................................... 11
Documentary Credit Message Types .................................................................................................12
MT 700 Issue of a Documentary Credit ..............................................................................................14
MT 700 Scope................................................................................................................................ 14

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MT 700 Format Specifications .......................................................................................................14
MT 700 Network Validated Rules ..................................................................................................15
MT 700 Usage Rules ..................................................................................................................... 15

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MT 700 Field Specifications ........................................................................................................... 16
MT 700 Examples .......................................................................................................................... 33
MT 701 Issue of a Documentary Credit ..............................................................................................37
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MT 701 Scope................................................................................................................................ 37
MT 701 Format Specifications .......................................................................................................37
MT 701 Network Validated Rules ..................................................................................................37
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MT 701 Usage Rules ..................................................................................................................... 37
MT 701 Field Specifications ........................................................................................................... 38
MT 701 Examples .......................................................................................................................... 41
MT 705 Pre-Advice of a Documentary Credit .....................................................................................42
MT 705 Scope................................................................................................................................ 42
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MT 705 Format Specifications .......................................................................................................42

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MT 705 Network Validated Rules ..................................................................................................43

MT 705 Field Specifications ........................................................................................................... 43
MT 705 Examples .......................................................................................................................... 51
MT 707 Amendment to a Documentary Credit ...................................................................................53
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MT 707 Scope................................................................................................................................ 53
MT 707 Format Specifications .......................................................................................................53
MT 707 Network Validated Rules ..................................................................................................54
MT 707 Usage Rules ..................................................................................................................... 54
MT 707 Field Specifications ........................................................................................................... 55
MT 707 Examples .......................................................................................................................... 64
MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit ............................................71
MT 710 Scope................................................................................................................................ 71
MT 710 Format Specifications .......................................................................................................71
MT 710 Network Validated Rules ..................................................................................................72
MT 710 Usage Rules ..................................................................................................................... 73
MT 710 Field Specifications ........................................................................................................... 73
MT 710 Examples .......................................................................................................................... 92

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 711 Advice of a Third Bank's or a Non-Bank's Documentary Credit ............................................95

MT 711 Scope................................................................................................................................ 95
MT 711 Format Specifications .......................................................................................................95
MT 711 Network Validated Rules ..................................................................................................95
MT 711 Usage Rules ..................................................................................................................... 95
MT 711 Field Specifications ........................................................................................................... 96
MT 720 Transfer of a Documentary Credit .......................................................................................100
MT 720 Scope.............................................................................................................................. 100
MT 720 Format Specifications .....................................................................................................100
MT 720 Network Validated Rules ................................................................................................101
MT 720 Usage Rules ................................................................................................................... 101
MT 720 Field Specifications .........................................................................................................102
MT 720 Examples ........................................................................................................................ 120

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MT 721 Transfer of a Documentary Credit .......................................................................................126
MT 721 Scope.............................................................................................................................. 126

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MT 721 Format Specifications .....................................................................................................126
MT 721 Network Validated Rules ................................................................................................126
MT 721 Usage Rules ................................................................................................................... 126
MT 721 Field Specifications .........................................................................................................127
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MT 721 Examples ........................................................................................................................ 131
MT 730 Acknowledgement ............................................................................................................... 132
MT 730 Scope.............................................................................................................................. 132
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MT 730 Format Specifications .....................................................................................................132

MT 730 Network Validated Rules ................................................................................................132
MT 730 Field Specifications .........................................................................................................132
MT 730 Examples ........................................................................................................................ 137
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MT 732 Advice of Discharge............................................................................................................. 141

MT 732 Scope.............................................................................................................................. 141
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MT 732 Format Specifications .....................................................................................................141

MT 732 Network Validated Rules ................................................................................................141
MT 732 Field Specifications .........................................................................................................141
MT 732 Examples ........................................................................................................................ 143
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MT 734 Advice of Refusal................................................................................................................. 146

MT 734 Scope.............................................................................................................................. 146
MT 734 Format Specifications .....................................................................................................146
MT 734 Network Validated Rules ................................................................................................146
MT 734 Field Specifications .........................................................................................................147
MT 734 Examples ........................................................................................................................ 151
MT 740 Authorisation to Reimburse .................................................................................................153
MT 740 Scope.............................................................................................................................. 153
MT 740 Format Specifications .....................................................................................................153
MT 740 Network Validated Rules ................................................................................................154
MT 740 Field Specifications .........................................................................................................154
MT 740 Examples ........................................................................................................................ 162
MT 742 Reimbursement Claim .........................................................................................................164

4 Message Reference Guide

 Table of Contents

MT 742 Scope.............................................................................................................................. 164

MT 742 Format Specifications .....................................................................................................164
MT 742 Network Validated Rules ................................................................................................164
MT 742 Field Specifications .........................................................................................................164
MT 742 Examples ........................................................................................................................ 171
MT 747 Amendment to an Authorisation to Reimburse ....................................................................175
MT 747 Scope.............................................................................................................................. 175
MT 747 Format Specifications .....................................................................................................175
MT 747 Network Validated Rules ................................................................................................175
MT 747 Usage Rules ................................................................................................................... 176
MT 747 Field Specifications .........................................................................................................176
MT 747 Examples ........................................................................................................................ 181
MT 750 Advice of Discrepancy .........................................................................................................183

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MT 750 Scope.............................................................................................................................. 183
MT 750 Format Specifications .....................................................................................................183

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MT 750 Network Validated Rules ................................................................................................183
MT 750 Field Specifications .........................................................................................................184
MT 750 Examples ........................................................................................................................ 189
MT 752 Authorisation to Pay, Accept or Negotiate ...........................................................................191
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MT 752 Scope.............................................................................................................................. 191
MT 752 Format Specifications .....................................................................................................191
MT 752 Network Validated Rules ................................................................................................191
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MT 752 Usage Rules ................................................................................................................... 191

MT 752 Field Specifications .........................................................................................................192
MT 752 Examples ........................................................................................................................ 197
MT 754 Advice of Payment/Acceptance/Negotiation........................................................................202
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MT 754 Scope.............................................................................................................................. 202

MT 754 Format Specifications .....................................................................................................202
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MT 754 Network Validated Rules ................................................................................................202

MT 754 Field Specifications .........................................................................................................203
MT 754 Examples ........................................................................................................................ 211
MT 756 Advice of Reimbursement or Payment ................................................................................212
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MT 756 Scope.............................................................................................................................. 212

MT 756 Format Specifications .....................................................................................................212
MT 756 Network Validated Rules ................................................................................................212
MT 756 Usage Rules ................................................................................................................... 212
MT 756 Field Specifications .........................................................................................................212
MT 756 Examples ........................................................................................................................ 216
Part 2 Guarantees ................................................................................................................................. 221
Guarantee Message Types .............................................................................................................. 222
MT 760 Guarantee / Standby Letter of Credit...................................................................................223
MT 760 Scope.............................................................................................................................. 223
MT 760 Format Specifications .....................................................................................................223
MT 760 Network Validated Rules ................................................................................................223
MT 760 Usage Rules ................................................................................................................... 223

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 760 Field Specifications .........................................................................................................224

MT 760 Examples ........................................................................................................................ 227
MT 767 Guarantee / Standby Letter of Credit Amendment ..............................................................230
MT 767 Scope.............................................................................................................................. 230
MT 767 Format Specifications .....................................................................................................230
MT 767 Network Validated Rules ................................................................................................230
MT 767 Usage Rules ................................................................................................................... 230
MT 767 Field Specifications .........................................................................................................231
MT 767 Examples ........................................................................................................................ 235
MT 768 Acknowledgement of a Guarantee / Standby Message ......................................................237
MT 768 Scope.............................................................................................................................. 237
MT 768 Format Specifications .....................................................................................................237
MT 768 Network Validated Rules ................................................................................................237

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MT 768 Field Specifications .........................................................................................................238
MT 768 Examples ........................................................................................................................ 242

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MT 769 Advice of Reduction or Release ..........................................................................................247
MT 769 Scope.............................................................................................................................. 247
MT 769 Format Specifications .....................................................................................................247
MT 769 Network Validated Rules ................................................................................................247
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MT 769 Field Specifications .........................................................................................................248
MT 769 Examples ........................................................................................................................ 253
Part 3 Common Group .......................................................................................................................... 255
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Common Group Message Types ......................................................................................................256

MT 790 Advice of Charges, Interest and Other Adjustments ...........................................................257
MT 791 Request for Payment of Charges, Interest and Other Expenses ........................................258
MT 792 Request for Cancellation .....................................................................................................259
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MT 795 Queries ................................................................................................................................ 260

MT 796 Answers ............................................................................................................................... 261
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MT 798 Proprietary Message ...........................................................................................................262

MT 799 Free Format Message .........................................................................................................263
MT 799 Scope.............................................................................................................................. 263
MT 799 Format Specifications .....................................................................................................263
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MT 799 Network Validated Rules ................................................................................................263

MT 799 Field Specifications .........................................................................................................263
MT 799 Examples ........................................................................................................................ 264
Glossary of Terms ................................................................................................................................. 265

6 Message Reference Guide

 Introduction

Introduction

Overview
Category 7 supports messages which are exchanged between banks involved in the documentary credit and
guarantee business.

Applying the principles of the ICC UCP, the rules and basic text of these message types are given in English.
Users are however, free to use any language they choose for individual credits and parts thereof.

When sending messages in this category, the following general rules apply:

• the cancellation of a documentary credit, an authorisation to reimburse, or a guarantee, take the form of an
amendment. An MT 792 Request for Cancellation must therefore not be used, but rather an MT 707
Amendment to a Documentary Credit, MT 747 Amendment to an Authorisation to Reimburse, or MT 767

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Guarantee Amendment, respectively.

Note: The examples used in this category do not always use the total number of characters available for a

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SWIFT message or specific field. In some cases, multiple messages are shown, for example,
MT 700/701, to demonstrate the use of these messages/fields when the maximum input message
length/field length is exceeded.

Changes
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This volume incorporates the following change to Category 7 - Documentary Credits and Guarantees as noted
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in the Standards Release Guide (SRG) 2008 and the relevant updates to the SRG 2008:

• MT 760, addition of code ISPR and removal of code URCG

• MT 799, 707, field 79 becomes repetitive

• MT 734, extension of field 77J to 70*50x

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• MT 799, 707, 734, and 750, extension of message length from 2000 to 10000 characters
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• the modification of TESP (Treasury ETC Service Provider) from BEI sub-type to BIC sub-type. The impact
is on party field BEI presence validation error codes C05 and E57

• alignment of party identifier specification for use of BIC and BEIs

• some editorial enhancements throughout the document

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IMPORTANT: This volume contains information effective as of the November 2008 Standards
Release. Therefore the 31 August 2007 edition of the User Handbook Standards
volumes remains effective until November 2008.

Volume Formatting Explanation

This volume of the Standards User Handbook set contains general information about the category and a
detailed description of each message type which is currently available for use. For each message type, the
following information is provided:

Message Type Scope

The scope specifies the Sender and Receiver of the message and provides an explanation on how the
message is used. In some messages, an example of the message flow is also provided.

19 September 2008 7
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Message Type Format Specifications

The format specifications are the rules for the layout of the message type. This information is provided in table
form with the following information:

MT nnn (Message Type Name)

Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

M 21 Related Reference 16x 2

Mandatory Sequence A (Sequence Name)

M 25 Account Identification 35x 3

M 32a Value Date, Currency Code, Amount C or D 4

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-----> Optional Repetitive Sequence B (Sequence Name)

O 52a Ordering Institution A or D 5

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M 71B Details of Charges 6*35x 6

O 72 Sender to Receiver Information 6*35x 7

-----|
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• MT nnn (Message Type Name) provides the message type number and name
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• Status indicates if the field is

◦ M - Mandatory

◦ O - Optional
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The status M for fields in optional (sub)sequences means that the field must be present if the
(sub)sequence is present and is otherwise not allowed.
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• Tag is the field identification.

• Field Name is the detailed name of the field tag, for this message type.

• Content/Options provides permitted field length and characteristics. For information concerning field
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structure, notation and character restrictions, see SWIFTStandards MT General Information.

• No. identifies the number of the field in the Field Specifications for the message type.

Some messages are separated into sequences of fields, as shown above. An arrow indicates that a sequence
of fields may be repeated.

MT Network Validated Rules

Network validated rules are validated on the network, that is, rules for which an error code is defined. Rules
specified in this section affect more than one field in the message, placing a condition on one of the fields
specified. They are identified as Cn, or conditional rules.

8 Message Reference Guide

 Introduction

MT Usage Rules
Usage rules are not validated on the network, that is, rules for which no error code is defined, but are
nevertheless mandatory for the correct usage of the message. Rules specified in this section affect more than
one field in the message, or more than one SWIFT message.

MT Guidelines
Guidelines are not validated on the network and are not mandatory for the correct usage of the message.
They concern good practices. Guidelines specified in this section affect more than one field in the message, or
more than one SWIFT message.

MT Field Specifications
The rules for the use of each field in the message are specified in this section. Each field is identified by its

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index number (as shown in the No. column of the MT Format Specifications), field tag and detailed field name,
followed by a description of the field, which may contain some or all of the following:

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• FORMAT specifies the field formats which are allowed for the field.

• PRESENCE indicates if the field is mandatory, optional or conditional in its sequence.

• DEFINITION specifies the definition of the field in the message type.

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• CODES lists all codes available for use in the field. If there is more than one subfield for which codes are
defined, each separate code list will be identified with a CODES heading. When a list of codes is validated
by the network, the error code will be specified.
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• NETWORK VALIDATED RULES specifies rules that are validated on the network, that is, rules for which
an error code is defined. Generally, rules specified in this section affect only the field in which they appear.
In some cases, rules which are validated at the message level, that is, rules which affect more than one
field, are repeated in this section. This is the case when the rule does not affect the presence of the field,
but information within several fields, for example, a currency which must be the same for more than one
field in the message.
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• USAGE RULES specifies rules that are not validated on the network, that is, rules for which no error code
is defined, but are nevertheless mandatory for the correct usage of the field. Rules specified in this section
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affect only the field in which they appear.

• EXAMPLES provides one or more examples of the field as it will be formatted/used.

MT Mapping
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MT mapping provides an explanation of how to map the fields of the message into another SWIFT message,
either of the same or a different message type.

MT Examples
Examples are provided to illustrate the correct use of a message. Examples always include the following
information:

• Narrative provides a brief description of a transaction

• Information Flow illustrates the relationships between the parties involved in the message. An
explanation of the flow diagram can be found in SWIFTStandards MT General Information.

• SWIFT Format provides the message using the defined SWIFT format, and providing an explanation,
where necessary, of the fields which have been used.

19 September 2008 9
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Euro - Impact on Category Message Standards

Deletion of the National Currency Denomination Currency Codes
See the SWIFTStandards MT General Information volume for full details of the Euro-Related Information (ERI)
and the impact on SWIFTStandards MT message types.

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10 Message Reference Guide

 Part 1 Documentary Credits

Part 1

Documentary Credits

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19 September 2008 11
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Documentary Credit Message Types

The following table lists all Documentary Credit message types defined in Category 7.

For each message type, there is a short description, an indicator whether the message type requires
authentication (Y or N), the maximum message length for input (2,000 or 10,000 characters) and whether the
use of the message requires registration with SWIFT for use in a message user group (Y or N).

MT MT Name Purpose Authen Max MUG

Length

700 Issue of a Indicates the terms and conditions Y 10,000 N

Documentary Credit of a documentary credit

701 Issue of a Continuation of an MT 700 for fields Y 10,000 N

Documentary Credit 45a, 46a and 47a

N
705 Pre-Advice of a Provides brief advice of a Y 2,000 N
Documentary Credit documentary credit for which full

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details will follow

707 Amendment to a Informs the Receiver of Y 10,000 N

Documentary Credit amendments to the terms and
conditions of a documentary credit
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710 Advice of a Third Advises the Receiver of the terms Y 10,000 N
Bank's Documentary and conditions of a documentary
Credit credit
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711 Advice of a Third Continuation of an MT 710 for fields Y 10,000 N

Bank's Documentary 45a, 46a and 47a
Credit

720 Transfer of a Advises the transfer of a Y 10,000 N

Documentary Credit documentary credit, or part thereof,
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to the bank advising the second

beneficiary
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721 Transfer of a Continuation of an MT 720 for fields Y 10,000 N

Documentary Credit 45a, 46a and 47a

730 Acknowledgement Acknowledges the receipt of a Y 2,000 N

documentary credit message and
N

may indicate that the message has

been forwarded according to
instructions. It may also be used to
account for bank charges or to
advise of acceptance or rejection of
an amendment of a documentary
credit

732 Advice of Discharge Advises that documents received Y 2,000 N

with discrepancies have been taken
up

734 Advice of Refusal Advises the refusal of documents Y 10,000 N

that are not in accordance with the
terms and conditions of a
documentary credit

12 Message Reference Guide

 Documentary Credit Message Types

MT MT Name Purpose Authen Max MUG

Length

740 Authorisation to Requests the Receiver to honour Y 2,000 N

Reimburse claims for reimbursement of
payment(s) or negotiation(s) under a
documentary credit

742 Reimbursement Claim Provides a reimbursement claim to Y 2,000 N

the bank authorised to reimburse
the Sender or its branch for its
payments/negotiations

747 Amendment to an Informs the reimbursing bank of Y 2,000 N

Authorisation to amendments to the terms and
Reimburse conditions of a documentary credit,
relative to the authorisation to
reimburse

N
750 Advice of Discrepancy Advises of discrepancies and Y 10,000 N
requests authorisation to honour

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documents presented that are not in
accordance with the terms and
conditions of the documentary credit

752 Authorisation to Pay,

Accept or Negotiate
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Advises a bank which has requested
authorisation to pay, accept,
negotiate or incur a deferred
Y 2,000 N

payment undertaking that the

presentation of the documents may
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be honoured, notwithstanding the

discrepancies, provided they are
otherwise in order

754 Advice of Payment/ Advises that documents have been Y 2,000 N

Acceptance/ presented in accordance with the
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Negotiation terms of a documentary credit and

are being forwarded as instructed.
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This message type also handles the

payment/negotiation

756 Advice of Advises of the reimbursement or Y 2,000 N

Reimbursement or payment for a drawing under a
Payment documentary credit in which no
N

specific reimbursement instructions

or payment provisions were given

Note: A Message User Group (MUG), for the purposes of this book, is a group of users who have
voluntarily agreed to support the specified message type and have registered with SWIFT to send or
receive the specified message type. These messages are indicated in the preceding table in the
column MUG.
Registration is free of charge. To register to use one or more message types, submit a registration
request (Register to a Message User Group) through www.swift.com. To withdraw from a MUG,
use the Deregister from a Message User Group request.
These forms are available on www.swift.com > Ordering & Support > Ordering & Configuration >
Order products & services.
To get the list of other members of a particular MUG, send an MT 999 to the Customer
Implementation team (SWHQBEBBCOS).

19 September 2008 13
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 700 Issue of a Documentary Credit

MT 700 Scope
This message is sent by the issuing bank to the advising bank.

It is used to indicate the terms and conditions of a documentary credit which has been originated by the
Sender (issuing bank).

MT 700 Format Specifications

MT 700 Issue of a Documentary Credit
Status Tag Field Name Content/Options No.

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M 27 Sequence of Total 1!n/1!n 1

M 40A Form of Documentary Credit

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24x 2

M 20 Documentary Credit Number 16x 3

O 23 Reference to Pre-Advice 16x 4

O 31C Date of Issue

RS 6!n 5

M 40E Applicable Rules 30x[/35x] 6

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M 31D Date and Place of Expiry 6!n29x 7

O 51a Applicant Bank A or D 8

M 50 Applicant 4*35x 9

M 59 Beneficiary [/34x] 10
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4*35x

M 32B Currency Code, Amount 3!a15d 11

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O 39A Percentage Credit Amount Tolerance 2n/2n 12

O 39B Maximum Credit Amount 13x 13

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O 39C Additional Amounts Covered 4*35x 14

M 41a Available With ... By ... A or D 15

O 42C Drafts at ... 3*35x 16

O 42a Drawee A or D 17

O 42M Mixed Payment Details 4*35x 18

O 42P Deferred Payment Details 4*35x 19

O 43P Partial Shipments 1*35x 20

O 43T Transshipment 1*35x 21

O 44A Place of Taking in Charge/Dispatch from .../Place 1*65x 22

of Receipt

14 Message Reference Guide

 MT 700 Issue of a Documentary Credit

Status Tag Field Name Content/Options No.

O 44E Port of Loading/Airport of Departure 1*65x 23

O 44F Port of Discharge/Airport of Destination 1*65x 24

O 44B Place of Final Destination/For Transportation to .../ 1*65x 25

Place of Delivery

O 44C Latest Date of Shipment 6!n 26

O 44D Shipment Period 6*65x 27

O 45A Description of Goods and/or Services 100*65x 28

O 46A Documents Required 100*65x 29

O 47A Additional Conditions 100*65x 30

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O 71B Charges 6*35x 31

O 48 Period for Presentation 4*35x 32

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M 49 Confirmation Instructions 7!x 33

O 53a Reimbursing Bank A or D 34

O 78
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Instructions to the Paying/Accepting/Negotiating
Bank
12*65x 35

O 57a 'Advise Through' Bank A, B, or D 36

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O 72 Sender to Receiver Information 6*35x 37

M = Mandatory, O = Optional

MT 700 Network Validated Rules

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C1 Either field 39A or 39B, but not both, may be present (Error code(s): D05).
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C2 When used, fields 42C and 42a must both be present (Error code(s): C90).

C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other
combination of these fields is allowed (Error code(s): C90).
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C4 Either field 44C or 44D, but not both, may be present (Error code(s): D06).

MT 700 Usage Rules

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 701s. Up to three MT 701s may
be sent in addition to the MT 700.

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, if the Receiver does not further transmit the credit by MT 710, it
must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

19 September 2008 15
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves, us, or you.

• The advising bank must advise a documentary credit, including all its details, in a way that is clear and
unambiguous to the beneficiary.

MT 700 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

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PRESENCE

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Mandatory

DEFINITION
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This field specifies the number of this message in the series of messages sent for a documentary credit, and
the total number of messages in the series.

2. Field 40A: Form of Documentary Credit

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FORMAT

Option A 24x (Type)

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PRESENCE

Mandatory
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DEFINITION

This field specifies the type of credit.

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CODES

One of the following codes must be used (Error code(s): T60):

IRREVOCABLE The documentary credit is irrevocable.

REVOCABLE The documentary credit is revocable.

IRREVOCABLE TRANSFERABLE The documentary credit is irrevocable and transferable.

REVOCABLE TRANSFERABLE The documentary credit is revocable and transferable.

IRREVOCABLE STANDBY The standby letter of credit is irrevocable.

REVOCABLE STANDBY The standby letter of credit is revocable.

IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable.

16 Message Reference Guide

 MT 700 Issue of a Documentary Credit

USAGE RULES

Details of any special conditions applying to the transferability of the credit and/or the bank authorised to
transfer the credit in a freely negotiable credit should be included in field 47A Additional Conditions.

3. Field 20: Documentary Credit Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

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This field specifies the documentary credit number which has been assigned by the Sender.

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NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26). RS
4. Field 23: Reference to Pre-Advice
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FORMAT

16x

PRESENCE
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Optional
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DEFINITION

This field specifies if the documentary credit has been pre-advised.

USAGE RULES
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This field must contain the code PREADV followed by a slash '/' and a reference to the pre-advice, for
example, by date.

5. Field 31C: Date of Issue

FORMAT

Option C 6!n (Date)

PRESENCE

Optional

19 September 2008 17
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies the date on which the issuing bank (Sender) considers the documentary credit as being
issued.

NETWORK VALIDATED RULES

Date must contain a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

The absence of this field implies that the date of issue is the date this message is sent.

6. Field 40E: Applicable Rules

FORMAT

N
Option E 30x[/35x] (Applicable Rules)(Narrative)

IO
PRESENCE

Mandatory

DEFINITION
RS
This field specifies the rules the credit is subject to.
VE

CODES

One of the following codes must be used (Error code(s): T59)

EUCP LATEST VERSION The credit is subject to the version of the Supplement of the
T

ICC Uniform Customs and Practice for Documentary Credits

for Electronic Presentations, International Chamber of
Commerce, Paris, France, which is in effect on the date of
EX

issue.

EUCPURR LATEST VERSION The credit is subject to the version of the Supplement of the
ICC Uniform Customs and Practice for Documentary Credits
for Electronic Presentations, International Chamber of
N

Commerce, Paris, France, which is in effect on the date of

issue. The reimbursement is subject to the version of the
Uniform Rules for Bank-to-Bank Reimbursements,
International Chamber of Commerce, Paris, France, which is in
effect on the date of issue.

ISP LATEST VERSION The standby letter of credit is subject to the version of the ICC
International Standby Practices, International Chamber of
Commerce, Paris, France, which is in effect on the date of
issue.

OTHR The credit is subject to any other rules.

UCP LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International
Chamber of Commerce, Paris, France, which is in effect on the
date of issue.

18 Message Reference Guide

 MT 700 Issue of a Documentary Credit

UCPURR LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International
Chamber of Commerce, Paris, France, which is in effect on the
date of issue. The reimbursement is subject to the version of
the Uniform Rules for Bank-to-Bank Reimbursements under
documentary credits, International Chamber of Commerce,
Paris, France, which is in effect on the date of issue.

NETWORK VALIDATED RULES

Subfield 2 of field 40E, that is, "/"35x, is only allowed when subfield 1 of this field consists of OTHR (Error
code(s): D81).

7. Field 31D: Date and Place of Expiry

N
FORMAT

Option D 6!n29x (Date)(Place)

IO
PRESENCE

Mandatory

DEFINITION
RS
This field specifies the latest date for presentation under the documentary credit and the place where
VE
documents may be presented.

NETWORK VALIDATED RULES

Date must contain a valid date expressed as YYMMDD (Error code(s): T50).
T

8. Field 51a: Applicant Bank

EX

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
N

Option D [/1!a][/34x] (Party Identifier)

4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

This field specifies the bank of the applicant customer, if different from the issuing bank.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including

19 September 2008 19
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

9. Field 50: Applicant

FORMAT

4*35x (Name & Address)

PRESENCE

Mandatory

DEFINITION

This field specifies the party on behalf of which the documentary credit is being issued.

N
10. Field 59: Beneficiary

IO
FORMAT

[/34x] (Account)
RS
4*35x (Name & Address)

PRESENCE
VE

Mandatory

DEFINITION

This field specifies the party in favour of which the documentary credit is being issued.
T

11. Field 32B: Currency Code, Amount

EX

FORMAT

Option B 3!a15d (Currency)(Amount)

N

PRESENCE

Mandatory

DEFINITION

This field contains the currency code and amount of the documentary credit.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

20 Message Reference Guide

 MT 700 Issue of a Documentary Credit

USAGE RULES

Special information relative to the amount of the credit must be specified in field 39A Percentage Credit
Amount Tolerance, field 39B Maximum Credit Amount or field 39C Additional Amounts Covered.

12. Field 39A: Percentage Credit Amount Tolerance

FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

PRESENCE

Conditional (see rule C1)

DEFINITION

N
This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus
that amount.

IO
USAGE RULES

Tolerance 1 specifies a positive tolerance, the Tolerance 2 specifies a negative tolerance.

RS
13. Field 39B: Maximum Credit Amount
VE
FORMAT

Option B 13x

PRESENCE
T

Conditional (see rule C1)

EX

DEFINITION

This field further qualifies the documentary credit amount.

CODES
N

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

14. Field 39C: Additional Amounts Covered

FORMAT

Option C 4*35x (Narrative)

PRESENCE

Optional

19 September 2008 21
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies any additional amounts available to the beneficiary under the terms of the credit, such as
insurance, freight, interest, etc.

15. Field 41a: Available With ... By ...

FORMAT

Option A 4!a2!a2!c[3!c] (Identifier Code)

14x (Code)
Option D 4*35x (Name and Address)
14x (Code)

PRESENCE

N
Mandatory

IO
DEFINITION

This field identifies the bank with which the credit is available (the place for presentation) and an indication of
how the credit is available.

CODES
RS
In option A, or D, Code must contain one of the following codes (Error code(s): T68)
VE

BY ACCEPTANCE

BY DEF PAYMENT

BY MIXED PYMT
T

BY NEGOTIATION

BY PAYMENT
EX

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

N

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

For credits subject to eUCP:

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in field 47A and not in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in field 47A and not
in this field.

22 Message Reference Guide

 MT 700 Issue of a Documentary Credit

If the credit is to be freely negotiable by any bank, option D must be used with the phrase Any bank in ... (city
or country). If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country
is not required.

When Code contains either BY DEF PAYMENT or BY MIXED PYMT, the specific details of the payment terms
must be specified in field 42P and 42M respectively.

When Code contains BY PAYMENT, this should be understood to mean payment at sight.

16. Field 42C: Drafts at ...

FORMAT

Option C 3*35x (Narrative)

PRESENCE

N
Conditional (see rules C2 and C3)

IO
DEFINITION

This field specifies the tenor of drafts to be drawn under the documentary credit.

17. Field 42a: Drawee

RS
FORMAT
VE

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)
T

PRESENCE
EX

Conditional (see rules C2 and C3)

DEFINITION

This field identifies the drawee of the drafts to be drawn under the documentary credit.
N

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

The drawee must be a bank. If drafts on the applicant are required, they are to be listed as documents in field
46A.

The Party Identifier must not be present.

19 September 2008 23
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

18. Field 42M: Mixed Payment Details

FORMAT

Option M 4*35x (Narrative)

PRESENCE

Conditional (see rule C3)

DEFINITION

This field specifies the payment dates, amounts and/or method for their determination in a documentary credit
which is available by mixed payment.

N
19. Field 42P: Deferred Payment Details
FORMAT

IO
Option P 4*35x (Narrative)

PRESENCE RS
Conditional (see rule C3)

DEFINITION
VE

This field specifies the payment date or method for its determination in a documentary credit which is available
by deferred payment only.

20. Field 43P: Partial Shipments

T

FORMAT
EX

Option P 1*35x (Narrative)

PRESENCE
N

Optional

DEFINITION

This field specifies whether or not partial shipments are allowed under the documentary credit.

21. Field 43T: Transshipment

FORMAT

Option T 1*35x (Narrative)

PRESENCE

Optional

24 Message Reference Guide

 MT 700 Issue of a Documentary Credit

DEFINITION

This field specifies whether or not transshipment is allowed under the documentary credit.

22. Field 44A: Place of Taking in Charge/Dispatch from .../Place of

Receipt
FORMAT

Option A 1*65x (Narrative)

PRESENCE

Optional

N
DEFINITION

This field specifies the place of taking in charge (in case of a multimodal transport document), the place of

IO
receipt (in case of a road, rail or inland waterway transport document or a courier or expedited delivery service
document), the place of dispatch or the place of shipment to be indicated on the transport document.

23. Field 44E: Port of Loading/Airport of Departure

RS
FORMAT

Option E 1*65x (Narrative)

VE

PRESENCE

Optional
T

DEFINITION
EX

This field specifies the port of loading or airport of departure to be indicated on the transport document.

24. Field 44F: Port of Discharge/Airport of Destination

N

FORMAT

Option F 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the port of discharge or airport of destination to be indicated on the transport document.

19 September 2008 25
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

25. Field 44B: Place of Final Destination/For Transportation to .../Place

of Delivery
FORMAT

Option B 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the final destination or place of delivery to be indicated on the transport document.

N
26. Field 44C: Latest Date of Shipment

IO
FORMAT

Option C 6!n (Date)

PRESENCE
RS
Conditional (see rule C4)
VE
DEFINITION

This field specifies the latest date for loading on board/dispatch/taking in charge.

NETWORK VALIDATED RULES

T

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

EX

27. Field 44D: Shipment Period

FORMAT

Option D 6*65x (Narrative)

N

PRESENCE

Conditional (see rule C4)

DEFINITION

This field specifies the period of time during which the goods are to be loaded on board/despatched/taken in
charge.

28. Field 45A: Description of Goods and/or Services

FORMAT

Option A 100*65x (Narrative)

26 Message Reference Guide

 MT 700 Issue of a Documentary Credit

PRESENCE

Optional

DEFINITION

This field contains a description of the goods and/or services.

USAGE RULES

Terms such as FOB, CIF, etc. should be specified in this field.

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 45a may appear in only one message, that is, either in the MT 700 or in one MT 701.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
description of goods and/or services.

N
Some examples of valid combinations:

IO
• MT 700 contains field 45A, 46A, and 47A.

• MT 700 contains field 45A; the subsequent MT 701 contains fields 46B and 47B.

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.
RS
• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.
VE

Some examples of invalid combinations:

• MT 700 contains field 45A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 45a).

• MT 700 contains field 45A; the first MT 701 contains field 45B; the second MT 701 contains fields 45B,
T

46B and 47B (INVALID because there are three fields 45a).
EX

The specification of each new item should begin on a new line, preceded by the sign '+'.

29. Field 46A: Documents Required

N

FORMAT

Option A 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field contains a description of any documents required.

USAGE RULES

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

19 September 2008 27
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 46a may appear in only one message, that is, either in the MT 700 or in one MT 701.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
documents required.

Some examples of valid combinations:

• MT 700 contains field 45A, 46A, and 47A.

• MT 700 contains field 45A; the subsequent MT 701 contains fields 46B and 47B.

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.

• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

N
• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.

IO
Some examples of invalid combinations:

• MT 700 contains field 46A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 46a).
RS
• MT 700 contains field 46A; the first MT 701 contains field 46B; the second MT 701 contains fields 45B,
46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.
VE

30. Field 47A: Additional Conditions

FORMAT
T

Option A 100*65x (Narrative)

EX

PRESENCE

Optional

DEFINITION
N

This field contains a description of further conditions of the documentary credit.

USAGE RULES

In case the documentary credit is subject to any rules for which no code words are provided in field 40E,
further details should be specified in this field.

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 47a may appear in only one message, that is, either in the MT 700 or in one MT 701. This
means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
conditions.

Some examples of valid combinations:

• MT 700 contains field 45A, 46A, and 47A.

28 Message Reference Guide

 MT 700 Issue of a Documentary Credit

• MT 700 contains field 47A; the subsequent MT 701 contains fields 45B and 46B.

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.

• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.

Some examples of invalid combinations:

• MT 700 contains field 47A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 47a).

• MT 700 contains field 47A; the first MT 701 contains field 47B; the second MT 701 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

Where applicable, for credits subject to eUCP:

N
• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

IO
• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
RS
message, must provide the beneficiary or another advising bank with the electronic address of the issuing
bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".
VE

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".

Examples:

◦ EUCP@DRESDNER-BANK.COM should be shown as

T

EUCP(AT)DRESDNER-BANK.COM

◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EX

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM

The specification of each new item should begin on a new line, preceded by the sign '+'.
N

EXAMPLE

:47A:+NOT SUBJECT TO ICC UCP500

:47A:+SUBJECT TO ICC EUCP VERSION 1.0

31. Field 71B: Charges

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

19 September 2008 29
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional

DEFINITION

This field may be used only to specify charges to be borne by the beneficiary.

CODES

One or more of the following codes may be used, followed by the currency code and amount:

N
AGENT Agent's commission

IO
COMM Our commission

CORCOM Our correspondent's commission

DISC Commercial discount

RS
INSUR Insurance premium

POST Our postage

VE
STAMP Stamp duty

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

T

USAGE RULES

In the absence of this field, all charges, except negotiation and transfer charges, are to be borne by the
EX

applicant.

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
N

the field.

32. Field 48: Period for Presentation

FORMAT

4*35x (Narrative)

PRESENCE

Optional

30 Message Reference Guide

 MT 700 Issue of a Documentary Credit

DEFINITION

This field specifies the period of time after the date of shipment within which the documents must be
presented for payment, acceptance or negotiation.

USAGE RULES

The period of time is expressed in number of days.

The absence of this field means that the presentation period is 21 days, where applicable.

33. Field 49: Confirmation Instructions

FORMAT

7!x (Instruction)

N
PRESENCE

IO
Mandatory

DEFINITION
RS
This field contains confirmation instructions for the Receiver.

CODES
VE
One of the following codes must be used (Error code(s): T67):

CONFIRM The Receiver is requested to confirm the credit.

MAY ADD The Receiver may add its confirmation to the credit.
T

WITHOUT The Receiver is not requested to confirm the credit.

EX

34. Field 53a: Reimbursing Bank

FORMAT
N

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

This field specifies the name of the bank which has been authorised by the Sender to reimburse drawings
under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different
bank.

19 September 2008 31
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

With the exception of a credit valid for negotiation, if there is a single direct account relationship, in the
currency of the credit, between the Sender and the Receiver, the absence of field 53a means that this account
relationship will be used for reimbursement.

35. Field 78: Instructions to the Paying/Accepting/Negotiating Bank

N
FORMAT

IO
12*65x (Narrative)

PRESENCE

Optional
RS
DEFINITION
VE
This field specifies instructions to the paying, accepting or negotiating bank. It may also indicate if pre-
notification of a reimbursement claim or pre-debit notification to the issuing bank is required.

USAGE RULES

When used to indicate pre-notification of a reimbursement claim or pre-debit notification to the issuing bank is
T

required, the number and type, that is, banking or calendar, of days within which the issuing bank has to be
notified should also be indicated.
EX

36. Field 57a: 'Advise Through' Bank

FORMAT
N

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary.

32 Message Reference Guide

 MT 700 Issue of a Documentary Credit

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

37. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

N
Line 1 /8c/[additional information]
Lines 2-6 [//continuation of additional

IO
information]
or
[/8c/[additional information]]

PRESENCE
RS
Optional
VE

DEFINITION

This field specifies additional information for the Receiver.

CODES
T

One or more of the following codes may be used:

EX

PHONBEN Please advise/contact beneficiary by phone.

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication.

USAGE RULES
N

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 700 Examples
Narrative

ABC Company, Kaerntnerstrasse 3, Vienna, imports beer from Amdam Company, PO Box 123, Amsterdam,
under a documentary credit.

ABC Co.'s bank is Oesterreichische Laenderbank, Vienna. Amdam Co.'s bank is Bank Mees en Hope,
Amsterdam.

19 September 2008 33
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

In addition to the above information, the documentary credit is comprised of the following:

Type of Credit: IRREVOCABLE

Documentary Credit Number: 12345

Date of Issue: 17 May 2003

Expiry Date: 30 July 2003

Place of Expiry: Advising Bank

Amount: Euro 100,000

Advising Bank: Amsterdam-Rotterdam Bank

Amsterdam

Available With: Advising Bank

By sight payment

N
Shipment: 400,000 Bottles of beer
Packed 12 to an export carton
FCA Amsterdam

IO
Against presentation of the following documents Signed Commercial Invoice in Quintuplicate
through the Advising Bank: Forwarding Agent's Certificate of Receipt, showing
RS goods addressed to Applicant.

Documents are to be presented within 6 days after the date of issuance of the Forwarding Agent's Certificate
of Receipt (FCR).
VE
Confirmation is requested.

Taking in charge at Amsterdam for transportation to Vienna.

Transshipment and partial shipments are permitted.

T

The documentary credit has been pre-advised on 10 May 2003.

EX
N

34 Message Reference Guide

 MT 700 Issue of a Documentary Credit

Information Flow

N
IO
RS
VE

SWIFT Message

Explanation Format
T

Sender OELBATWW

Message Type 700

EX

Receiver AMRONL2A

Message Text

Sequence of Total
N

:27:1/1

Form of Documentary Credit :40A:IRREVOCABLE

Documentary Credit Number :20:12345

Reference to Pre-Advice :23:PREADV/030510

Date of Issue :31C:030517

Applicable Rules :40E:UCP LATEST VERSION

Date and Place of Expiry :31D:030730AMSTERDAM

Applicant :50:ABC COMPANY

KAERNTNERSTRASSE 3
VIENNA

19 September 2008 35
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Beneficiary :59:AMDAM COMPANY

PO BOX 123
AMSTERDAM

Currency Code/Amount :32B:EUR100000,

Available With ... By ... :41A:AMRONL2A

BY PAYMENT

Partial Shipments :43P:ALLOWED

Transshipment :43T:ALLOWED

Taking in Charge ... :44A:AMSTERDAM

For Transportation to ... :44B:VIENNA

N
Description of Goods :45A:+400,000 BOTTLES OF BEER
PACKED 12 TO AN EXPORT CARTON

IO
+FCA AMSTERDAM

Documents Required :46A:+SIGNED COMMERCIAL INVOICE IN

QUINTUPLICATE
RS + FORWARDING AGENTS CERTIFICATE OF RECEIPT
SHOWING GOODS ADDRESSED TO THE APPLICANT

Period for Presentation :48:WITHIN 6 DAYS OF ISSUANCE OF FCR

Confirmation Instructions
VE
:49:CONFIRM

'Advise Through' Bank :57A:MEESNL2A

End of Message Text/Trailer

T
EX
N

36 Message Reference Guide

 MT 701 Issue of a Documentary Credit

MT 701 Issue of a Documentary Credit

MT 701 Scope
This message is sent by the issuing bank to the advising bank.

It is used to indicate the terms and conditions of a documentary credit which has been originated by the
Sender (issuing bank).

This message is sent in addition to an MT 700 Issue of a Documentary Credit, when the information in the
documentary credit exceeds the maximum input message length of the MT 700.

MT 701 Format Specifications

N
MT 701 Issue of a Documentary Credit
Status Tag Field Name Content/Options No.

IO
M 27 Sequence of Total 1!n/1!n 1

M 20 Documentary Credit Number 16x 2

O
45B

46B
RS
Description of Goods and/or Services

Documents Required
100*65x

100*65x
3

O 47B Additional Conditions 100*65x 5

VE

M = Mandatory, O = Optional

MT 701 Network Validated Rules

T

There are no network validated rules for this message type.

EX

MT 701 Usage Rules

• Any rules the credit is subject to must be indicated in field 40E of the MT 700 this message relates to.
N

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 701s. Up to three MT 701s may
be sent in addition to the MT 700.

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, if the Receiver does not further transmit the credit by MT 710, it
must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves , us, or you.

• The advising bank must advise a documentary credit, including all its details, in a way that is clear and
unambiguous to the beneficiary.

19 September 2008 37
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 701 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

PRESENCE

Mandatory

DEFINITION

This field specifies the number of this message in the series of messages sent for a documentary credit, and

N
the total number of messages in the series.

IO
2. Field 20: Documentary Credit Number
FORMAT

16x
RS
PRESENCE
VE
Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the Sender.
T

NETWORK VALIDATED RULES

EX

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

3. Field 45B: Description of Goods and/or Services

N

FORMAT

Option B 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field contains a description of the goods and/or services.

USAGE RULES

Terms such as FOB, CIF, etc. should be specified in this field.

38 Message Reference Guide

 MT 701 Issue of a Documentary Credit

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 45a may appear in only one message, that is, either in the MT 700 or in one MT 701.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
description of goods and/or services.

Some examples of valid combinations:

• MT 700 contains field 45A; the subsequent MT 701 contains fields 46B and 47B.

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.

• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.

Some examples of invalid combinations:

N
• MT 700 contains field 45A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 45a).

IO
• MT 700 contains field 45A; the first MT 701 contains field 45B; the second MT 701 contains fields 45B,
46B and 47B (INVALID because there are three fields 45a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

4. Field 46B: Documents Required

RS
FORMAT
VE

Option B 100*65x (Narrative)

PRESENCE
T

Optional
EX

DEFINITION

This field contains a description of any documents required.

USAGE RULES
N

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 46a may appear in only one message, that is, either in the MT 700 or in one MT 701.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
documents required.

Some examples of valid combinations:

• MT 700 contains field 45A; the subsequent MT 701 contains fields 46B and 47B.

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.

19 September 2008 39
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.

Some examples of invalid combinations:

• MT 700 contains field 46A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 46a).

• MT 700 contains field 46A; the first MT 701 contains field 46B; the second MT 701 contains fields 45B,
46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

5. Field 47B: Additional Conditions

N
FORMAT

Option B 100*65x (Narrative)

IO
PRESENCE

Optional RS
DEFINITION

This field contains a description of further conditions of the documentary credit.

VE

USAGE RULES

In case the documentary credit is subject to any rules for which no code words are provided in field 40E of the
related MT 700, further details should be specified in this field.
T

To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700.
However, field 47a may appear in only one message, that is, either in the MT 700 or in one MT 701. This
EX

means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
conditions.

Some examples of valid combinations:

• MT 700 contains field 47A; the subsequent MT 701 contains fields 45B and 46B.
N

• MT 700 contains field 46A; the subsequent MT 701 contains fields 45B and 47B.

• MT 700 contains field 46A; the first MT 701 contains field 45B; the second MT 701 contains field 47B.

• MT 700 does not contain fields 45A, 46A or 47A; the first MT 701 contains field 45B; the second MT 701
contains field 46B; the third MT 701 contains field 47B.

Some examples of invalid combinations:

• MT 700 contains field 47A; the first MT 701 contains fields 45B and 46B; the second MT 701 contains field
47B (INVALID because there are two fields 47a).

• MT 700 contains field 47A; the first MT 701 contains field 47B; the second MT 701 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

40 Message Reference Guide

 MT 701 Issue of a Documentary Credit

Where applicable, for credits subject to eUCP:

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
message, must provide the beneficiary or another advising bank with the electronic address of the issuing
bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".

Examples:

N
◦ EUCP@DRESDNER-BANK.COM should be shown as

IO
EUCP(AT)DRESDNER-BANK.COM

◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM
RS
The specification of each new item should begin on a new line, preceded by the sign '+'.

EXAMPLE
VE
:47B:+NOT SUBJECT TO ICC UCP500

:47B:+SUBJECT TO ICC EUCP VERSION 1.0

MT 701 Examples
T

There are no examples for this message type.

EX
N

19 September 2008 41
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 705 Pre-Advice of a Documentary Credit

MT 705 Scope
This message is sent by the issuing bank to the advising bank.

It is a brief advice of a documentary credit, the full details of which will follow.

The pre-advice is not an operative credit instrument. Unless otherwise stated, the issuing bank must forward
the operative credit instrument, that is, MT 700 Issue of a Documentary credit, without delay.

MT 705 Format Specifications

N
MT 705 Pre-Advice of a Documentary Credit
Status Tag Field Name Content/Options No.

IO
M 40A Form of Documentary Credit 24x 1

M 20 Documentary Credit Number 16x 2

M 31D Date and Place of Expiry

RS 6!n29x 3

M 50 Applicant 4*35x 4

M 59 Beneficiary [/34x] 5
4*35x
VE

M 32B Currency Code, Amount 3!a15d 6

O 39A Percentage Credit Amount Tolerance 2n/2n 7

O 39B Maximum Credit Amount 13x 8

T

O 39C Additional Amounts Covered 4*35x 9

O 41a Available With ... By ... A or D

EX

10

O 44A Place of Taking in Charge/Dispatch from .../Place 1*65x 11

of Receipt

O 44E Port of Loading/Airport of Departure 1*65x 12

N

O 44F Port of Discharge/Airport of Destination 1*65x 13

O 44B Place of Final Destination/For Transportation to .../ 1*65x 14

Place of Delivery

O 44C Latest Date of Shipment 6!n 15

O 44D Shipment Period 6*65x 16

O 45A Description of Goods and/or Services 100*65x 17

O 57a 'Advise Through' Bank A, B, or D 18

O 79 Narrative 35*50x 19

O 72 Sender to Receiver Information 6*35x 20

M = Mandatory, O = Optional

42 Message Reference Guide

 MT 705 Pre-Advice of a Documentary Credit

MT 705 Network Validated Rules

C1 Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C2 Either field 44C or 44D, but not both, may be present (Error code(s): D06).

MT 705 Field Specifications

1. Field 40A: Form of Documentary Credit
FORMAT

Option A 24x (Type)

N
PRESENCE

IO
Mandatory

DEFINITION
RS
This field specifies the type of credit.

CODES
VE
One of the following codes must be used (Error code(s): T60):

IRREVOCABLE The documentary credit is irrevocable.

REVOCABLE The documentary credit is revocable.

T

IRREVOCABLE TRANSFERABLE The documentary credit is irrevocable and transferable.

REVOCABLE TRANSFERABLE The documentary credit is revocable and transferable.

EX

IRREVOCABLE STANDBY The standby letter of credit is irrevocable.

REVOCABLE STANDBY The standby letter of credit is revocable.

IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable.
N

2. Field 20: Documentary Credit Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the Sender.

19 September 2008 43
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

3. Field 31D: Date and Place of Expiry

FORMAT

Option D 6!n29x (Date)(Place)

PRESENCE

Mandatory

DEFINITION

N
This field specifies the latest date for presentation under the documentary credit and the place where
documents may be presented.

IO
NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

RS
4. Field 50: Applicant
VE
FORMAT

4*35x (Narrative)

PRESENCE
T

Mandatory
EX

DEFINITION

This field specifies the party on behalf of which the documentary credit is being issued.
N

5. Field 59: Beneficiary

FORMAT

[/34x] (Account)
4*35x (Name & Address)

PRESENCE

Mandatory

DEFINITION

This field specifies the party in favour of which the documentary credit is being issued.

44 Message Reference Guide

 MT 705 Pre-Advice of a Documentary Credit

6. Field 32B: Currency Code, Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the currency and amount of the documentary credit.

NETWORK VALIDATED RULES

N
Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is

IO
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES RS
Special information relative to the amount of the credit must be specified in field 39A Percentage Credit
Amount Tolerance, field 39B Maximum Credit Amount or field 39C Additional Amounts Covered.
VE

7. Field 39A: Percentage Credit Amount Tolerance

FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

T

PRESENCE
EX

Conditional (see rule C1)

DEFINITION
N

This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus
that amount.

USAGE RULES

Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

8. Field 39B: Maximum Credit Amount

FORMAT

Option B 13x (Code)

PRESENCE

Conditional (see rule C1)

19 September 2008 45
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field further qualifies the documentary credit amount.

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

9. Field 39C: Additional Amounts Covered

FORMAT

Option C 4*35x (Narrative)

N
PRESENCE

IO
Optional

DEFINITION
RS
This field specifies any additional amounts covered such as insurance, freight, interest, etc.

10. Field 41a: Available With ... By ...

VE

FORMAT

Option A 4!a2!a2!c[3!c] (Identifier Code)

14x (Code)
Option D 4*35x (Name & Address)
T

14x (Code)
EX

PRESENCE

Optional

DEFINITION
N

This field identifies the bank with which the credit is available (the place for presentation) and an indication of
how the credit is available.

CODES

In option A, or D, Code must contain one of the following codes (Error code(s): T68):

BY ACCEPTANCE

BY DEF PAYMENT

BY MIXED PYMT

BY NEGOTIATION

BY PAYMENT

46 Message Reference Guide

 MT 705 Pre-Advice of a Documentary Credit

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

If the credit is to be freely negotiable by any bank, option D must be used with the phrase Any bank in ... (city
or country).

If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country is not
required.

N
When Code contains BY PAYMENT, this should be understood to mean payment at sight.

11. Field 44A: Place of Taking in Charge/Dispatch from .../Place of

IO
Receipt
FORMAT RS
Option A 1*65x (Narrative)

PRESENCE
VE

Optional

DEFINITION

This field specifies the place of taking in charge (in case of a multimodal transport document), the place of
T

receipt (in case of a road, rail or inland waterway transport document or a courier or expedited delivery service
document), the place of dispatch or the place of shipment to be indicated on the transport document.
EX

12. Field 44E: Port of Loading/Airport of Departure

FORMAT
N

Option E 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the port of loading or airport of departure to be indicated on the transport document.

19 September 2008 47
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

13. Field 44F: Port of Discharge/Airport of Destination

FORMAT

Option F 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the port of discharge or airport of destination to be indicated on the transport document.

14. Field 44B: Place of Final Destination/For Transportation to .../Place

N
of Delivery

IO
FORMAT

Option B 1*65x (Narrative)

PRESENCE
RS
Optional
VE
DEFINITION

This field specifies the final destination or place of delivery to be indicated on the transport document.

15. Field 44C: Latest Date of Shipment

T

FORMAT
EX

Option C 6!n (Date)

PRESENCE
N

Conditional (see rule C2)

DEFINITION

This field specifies the latest date for loading on board/dispatch/taking in charge.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

16. Field 44D: Shipment Period

FORMAT

Option D 6*65x (Narrative)

48 Message Reference Guide

 MT 705 Pre-Advice of a Documentary Credit

PRESENCE

Conditional (see rule C2)

DEFINITION

This field specifies the period of time during which the goods are to be loaded on board/despatched/taken in
charge.

17. Field 45A: Description of Goods and/or Services

FORMAT

Option A 100*65x (Narrative)

PRESENCE

N
Optional

IO
DEFINITION

This field contains a description of the goods or services.

USAGE RULES
RS
Terms such as FOB, CIF, etc. should be specified in this field.
VE
The specification of each new item should begin on a new line, preceded by the sign '+'.

18. Field 57a: 'Advise Through' Bank

FORMAT
T

Option A [/1!a][/34x] (Party Identifier)

EX

4!a2!a2!c[3!c] (Identifier Code)

Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)
N

PRESENCE

Optional

DEFINITION

This field identifies the bank, if different from the Receiver, through which the pre-advice of a documentary
credit is to be advised to the beneficiary.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including

19 September 2008 49
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

19. Field 79: Narrative

FORMAT

35*50x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies additional information concerning the documentary credit.

N
20. Field 72: Sender to Receiver Information

IO
FORMAT

6*35x (Narrative)
RS
In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

VE

Lines 2-6 [//continuation of additional

information]
or
[/8c/[additional information]]
T

PRESENCE
EX

Optional

DEFINITION

This field specifies additional information for the Receiver.

N

CODES

One or more of the following codes may be used:

PHONBEN Please advise/contact beneficiary by phone.

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication.

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

50 Message Reference Guide

 MT 705 Pre-Advice of a Documentary Credit

MT 705 Examples
Narrative

Oesterreichische Laenderbank, Vienna, is going to issue its irrevocable documentary credit 12345, for Euro
100,000 on behalf of ABC Company, Kaerntnerstrasse 3, Vienna.

The credit is in favour of Amdam Company, PO Box 123, Amsterdam, covering 400,000 bottles of beer. It is
valid until 30 July 2003.

Amdam Company is to be advised through Bank Mees en Hope, Amsterdam.

Oesterreichische Laenderbank sends a pre-advice of the credit to the advising bank, Amsterdam-Rotterdam
Bank, Amsterdam.

(To review the issue of the documentary credit with all of the credit details, see the Example Section of the
MT 700).

N
Information Flow

IO
RS
VE
T
EX
N

SWIFT Message

Explanation Format

Sender OELBATWW

Message Type 705

Receiver AMRONL2A

Message Text

19 September 2008 51
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Form of Documentary Credit :40A:IRREVOCABLE

Documentary Credit Number :20:12345

Date and Place of Expiry :31D:030730AMSTERDAM

Applicant :50:ABC COMPANY

KAERNTNERSTRASSE 3
VIENNA

Beneficiary :59:AMDAM COMPANY

PO BOX 123
AMSTERDAM

Currency Code/Amount :32B:EUR100000,

N
Description of Goods :45A:+400,000 BOTTLES OF BEER

'Advise Through' Bank :57A:MEESNL2A

IO
End of Message Text/Trailer

RS
VE
T
EX
N

52 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

MT 707 Amendment to a Documentary Credit

MT 707 Scope
This message is sent by the issuing bank to the advising bank. It may also be sent by an advising bank to
another advising bank or by a transferring bank to an advising bank.

It is used to inform the Receiver about amendments to the terms and conditions of a documentary credit
issued by the Sender or by a third bank.

The amendment is to be considered as part of the documentary credit, unless the MT 707 is used to convey
only brief details of the amendment, details of which are to follow.

MT 707 Format Specifications

N
MT 707 Amendment to a Documentary Credit

IO
Status Tag Field Name Content/Options No.

M 20 Sender's Reference 16x 1

M 21 Receiver's Reference
RS 16x 2

O 23 Issuing Bank's Reference 16x 3

O 52a Issuing Bank A or D 4

VE
O 31C Date of Issue 6!n 5

O 30 Date of Amendment 6!n 6

O 26E Number of Amendment 2n 7

M 59 Beneficiary (before this amendment) [/34x]

T

8
4*35x
EX

O 31E New Date of Expiry 6!n 9

O 32B Increase of Documentary Credit Amount 3!a15d 10

O 33B Decrease of Documentary Credit Amount 3!a15d 11

N

O 34B New Documentary Credit Amount After 3!a15d 12

Amendment

O 39A Percentage Credit Amount Tolerance 2n/2n 13

O 39B Maximum Credit Amount 13x 14

O 39C Additional Amounts Covered 4*35x 15

O 44A Place of Taking in Charge/Dispatch from .../Place 1*65x 16

of Receipt

O 44E Port of Loading/Airport of Departure 1*65x 17

O 44F Port of Discharge/Airport of Destination 1*65x 18

O 44B Place of Final Destination/For Transportation to .../ 1*65x 19

Place of Delivery

19 September 2008 53
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Status Tag Field Name Content/Options No.

O 44C Latest Date of Shipment 6!n 20

O 44D Shipment Period 6*65x 21

----->

O 79 Narrative 35*50x 22

-----|

O 72 Sender to Receiver Information 6*35x 23

M = Mandatory, O = Optional

MT 707 Network Validated Rules

N
C1 If either field 32B or 33B is present, field 34B must also be present (Error code(s): C12).

IO
C2 If field 34B is present, either field 32B or 33B must also be present (Error code(s): C12).

C3 If field 23 is present, field 52a must also be present (Error code(s): C16).

C4
RS
Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C5 Either field 44C or 44D, but not both, may be present (Error code(s): D06).

C6 At least one of the fields 31E, 32B, 33B, 34B, 39A, 39B, 39C, 44A, 44E, 44F, 44B, 44C, 44D, 79 or 72
VE

must be present (Error code(s): C30).

C7 The currency code in the amount fields 32B, 33B, and 34B must be the same (Error code(s): C02).
T

MT 707 Usage Rules

EX

• Terms and conditions which are not mentioned in the amendment message remain unchanged.

• The cancellation of a documentary credit takes the form of an amendment. The MT 707 must therefore be
used.

• There are specific fields for amendments to the date of expiry and for loading on board/dispatch/taking in
N

charge, and for increases or decreases in the amount of the documentary credit. All other amendments
must be specified in field 79.

• When an MT 707 conveys the actual and complete amendment, it is intended to form part of the operative
instrument.

• When an MT 707 is used to convey only brief details which are not intended to form part of the operative
instrument, field 79 must contain the phrase DETAILS TO FOLLOW.

• If the amendment contains reimbursement instructions which were not previously indicated in the original
credit and unless otherwise specified, reimbursements under the Documentary credit issued are, if
applicable, subject to the Uniform Rules for Bank-to-Bank Reimbursements under documentary credits,
International Chamber of Commerce, Paris, France, which are in effect on the date of issue. The advising
bank, that is, the Receiver of the message, should, where applicable, inform the nominated bank when the
reimbursement is subject to ICC URR. In case of a freely negotiable credit this should be done by
informing the beneficiary.

54 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

MT 707 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

N
NETWORK VALIDATED RULES

IO
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Receiver's Reference RS

FORMAT
VE
16x

PRESENCE

Mandatory
T

DEFINITION
EX

This field contains the reference number assigned to the documentary credit by the Receiver of the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
N

T26).

USAGE RULES

If the Receiver's reference is not known, NONREF must be used in this field.

3. Field 23: Issuing Bank's Reference

FORMAT

16x

PRESENCE

Optional

19 September 2008 55
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies the documentary credit number of the issuing bank.

USAGE RULES

This field is used when the message is sent by a bank other than the issuing bank, that is, it is sent by an
advising bank.

4. Field 52a: Issuing Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)

N
4*35x (Name & Address)

IO
PRESENCE

Conditional (see rule C3)

DEFINITION
RS
This field is used to identify the issuing bank, when different from the Sender of the message.

NETWORK VALIDATED RULES

VE

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
T

code(s): C05).
EX

USAGE RULES

When the MT 707 is used to advise a bank of amendments to a documentary credit by a third bank, this field
must specify the issuing bank.
N

5. Field 31C: Date of Issue

FORMAT

Option C 6!n (Date)

PRESENCE

Optional

DEFINITION

This field specifies the date of the original issue of the documentary credit, that is, the date on which the
issuing bank considers the credit as being issued.

56 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

NETWORK VALIDATED RULES

Date must contain a valid date expressed as YYMMDD (Error code(s): T50).

6. Field 30: Date of Amendment

FORMAT

6!n (Date)

PRESENCE

Optional

DEFINITION

N
This field specifies the date on which the issuing bank considers the credit as being amended.

IO
NETWORK VALIDATED RULES

Date must contain a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES RS
The absence of this field implies that the date of amendment of the documentary credit is the date on which
this MT 707 was sent.
VE

7. Field 26E: Number of Amendment

FORMAT

Option E 2n (Number)
T

PRESENCE
EX

Optional

DEFINITION
N

This field specifies the number which identifies this amendment.

USAGE RULES

This number should be the latest in the series of all amendments made, regardless of the means by which
previous amendments were sent.

8. Field 59: Beneficiary (before this amendment)

FORMAT

[/34x] (Account)
4*35x (Name & Address)

19 September 2008 57
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Mandatory

DEFINITION

This field specifies the party in favour of which the documentary credit was issued, or transferred, prior to this
amendment.

USAGE RULES

It is used to assist the recipient in identifying the credit.

The presence of this field should not be interpreted to imply that the beneficiary is being changed.

If the name of the beneficiary is being amended by this message, this must be specified in field 79, along with
the relevant details, for example, the name and address of the new beneficiary.

N
9. Field 31E: New Date of Expiry

IO
FORMAT

Option E 6!n (Date)

PRESENCE
RS
Conditional (see rule C6)
VE

DEFINITION

This field specifies the new, that is, revised, expiry date for presentation under the documentary credit.

NETWORK VALIDATED RULES

T

Date must contain a valid date expressed as YYMMDD (Error code(s): T50).
EX

10. Field 32B: Increase of Documentary Credit Amount

FORMAT
N

Option B 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rules C2 and C6)

DEFINITION

This field contains the currency and amount of an increase in the documentary credit amount.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

58 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B, 33B, and 34B must be the same (Error code(s): C02).

USAGE RULES

The currency of any increase in the credit amount must be in the same currency as that of the original credit
amount.

11. Field 33B: Decrease of Documentary Credit Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

N
PRESENCE

IO
Conditional (see rules C2 and C6)

DEFINITION
RS
This field contains the currency code and amount of a decrease in the documentary credit amount.

NETWORK VALIDATED RULES

VE
Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).
T

Currency in fields 32B, 33B, and 34B must be the same (Error code(s): C02).
EX

USAGE RULES

The currency of any decrease in the credit amount must be in the same currency as that of the original credit
amount.
N

12. Field 34B: New Documentary Credit Amount After Amendment

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rules C1 and C6)

DEFINITION

This field contains the currency code and total amount of the documentary credit after the amendment,
disregarding any drawings.

19 September 2008 59
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B, 33B, and 34B must be the same (Error code(s): C02).

13. Field 39A: Percentage Credit Amount Tolerance

FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

N
PRESENCE

Conditional (see rules C4 and C6)

IO
DEFINITION

When the credit amount tolerance is being amended, this field specifies the new tolerance relative to the
RS
documentary credit amount as a percentage plus and/or minus that amount.

USAGE RULES
VE
Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

14. Field 39B: Maximum Credit Amount

FORMAT
T

Option B 13x (Code)

EX

PRESENCE

Conditional (see rules C4 and C6)

N

DEFINITION

This field specifies the amended qualification of the documentary credit amount.

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

15. Field 39C: Additional Amounts Covered

FORMAT

Option C 4*35x (Narrative)

60 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

PRESENCE

Conditional (see rule C6)

DEFINITION

This field specifies amendments to any additional amounts covered, such as insurance, freight, interest, etc.

16. Field 44A: Place of Taking in Charge/Dispatch from .../Place of

Receipt
FORMAT

Option A 1*65x (Narrative)

N
PRESENCE

Conditional (see rule C6)

IO
DEFINITION

This field specifies amendments to the place of taking in charge (in case of a multimodal transport document),
RS
the place of receipt (in case of a road, rail or inland waterway transport document or a courier or expedited
delivery service document), the place of dispatch or the place of shipment to be indicated on the transport
document.
VE

17. Field 44E: Port of Loading/Airport of Departure

FORMAT

Option E 1*65x (Narrative)

T

PRESENCE
EX

Conditional (see rule C6)

DEFINITION
N

This field specifies amendments to the port of loading or airport of departure to be indicated on the transport
document.

18. Field 44F: Port of Discharge/Airport of Destination

FORMAT

Option F 1*65x (Narrative)

PRESENCE

Conditional (see rule C6)

19 September 2008 61
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies amendments to the port of discharge or airport of destination to be indicated on the
transport document.

19. Field 44B: Place of Final Destination/For Transportation to .../Place

of Delivery
FORMAT

Option B 1*65x (Narrative)

PRESENCE

Conditional (see rule C6)

N
DEFINITION

IO
This field specifies amendments to the final destination or place of delivery to be indicated on the transport
document.

20. Field 44C: Latest Date of Shipment RS

FORMAT

Option C 6!n (Date)

VE

PRESENCE

Conditional (see rules C5 and C6)

T

DEFINITION
EX

This field specifies amendments to the latest date for loading on board/dispatch/taking in charge.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

N

21. Field 44D: Shipment Period

FORMAT

Option D 6*65x (Narrative)

PRESENCE

Conditional (see rules C5 and C6)

DEFINITION

This field specifies amendments to the period of time during which the goods are to be loaded on board/
despatched/taken in charge.

62 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

22. Field 79: Narrative

FORMAT

35*50x (Narrative)

PRESENCE

Conditional (see rule C6)

DEFINITION

This field specifies amendments to the documentary credit for which there is no other specific field.

CODES

N
The following code may be used:

CANCEL The documentary credit is cancelled for the unutilized portion.

IO
USAGE RULES
RS
This field must be used when specifying changes in currency and/or increases or decreases in a currency
different from the basic currency.

When an MT 707 is used to convey only brief details which are not intended to form part of the operative
instrument, this field must contain the phrase DETAILS TO FOLLOW.
VE

This field should also be used to indicate if pre-notification of a reimbursement claim or pre-debit notification to
the issuing bank is required. The number and type, that is, banking or calendar, of days within which the
issuing bank has to be notified is also to be indicated.

In case the name of the beneficiary is being amended by this message, the new name and address of the
T

beneficiary should be explicitly indicated in this field. The new name and address of the beneficiary applies
wherever the original name and address of the beneficiary appeared in the original credit.
EX

This field may occur up to two times.

23. Field 72: Sender to Receiver Information

N

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Conditional (see rule C6)

19 September 2008 63
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used:

BENCON The Receiver is requested to advise the beneficiary's acceptance or non-acceptance

of the terms and conditions contained in the amendment.

PHONBEN Please advise/contact beneficiary by phone.

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication.

USAGE RULES

N
Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in

IO
the field.

MT 707 Examples RS
Example 1: Issue of a Documentary Credit
VE
Narrative

Solvia AB. PO Box 123, Upsala, Sweden, imports computer and electrical parts from Proquinal S.A., 48 rue de
la Bourse, Brussels, under a documentary credit, issued on 17 May 2003.

The documentary credit is in US dollars.

T

Solvia AB banks with Skandinaviska Enskilda Banken, Stockholm.

EX

Proquinal S.A. banks with Generale Bank, Brussels.

The following information comprises the documentary credit:

Type of Credit: IRREVOCABLE

N

Documentary credit Number: DC.IMP 3410/3444

Expiry Date: 30 July 2003

Place of Expiry: Brussels

Amount: US Dollars 31,500

Available With: Advising Bank by acceptance of Beneficiary's draft

drawn at 30 days after bill of lading date on
Generale Bank

Shipment of:

1 2209 b-4, cpu 16k memory 6 i/o slots 177-2200-74

64 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

1 2219 b-gr, 12" crt (64 x 16) u/l keyboard with single minidiskette with
controller

1 ap 101 additional minidiskette drive

2 2291 w-2 gr, 120 char.sec. printer, 12 pitch 132 char per line

1 2209 b-4 cpu 16k memory 6 i/o slots

1 2229 b-cr 12" crt (64 x 16) u/l keyboard console with contr.

1 2291 w-2 - gr. line printer

1 2269d 1/2, 2,5 mb-p + 2,5 mb-r disk drive

1 memory rom 210-6298

1 power regulator 210-0341

1 rom t-loading 210-6705

N
1 power supply regulator 210-6756

IO
1 coss interface 210-7068

1 ribbon assy 279-0181

2 hub lamp assy 726-1021

1 air filter
RS726-0414

cif Stockholm
VE
Documents Required/Special Conditions:

• Signed Commercial Invoice in Sevenfold

• 2/3 clean on board ocean bills of lading marked freight prepaid consigned to the order of beneficiaries
and endorsed in blank, marked notify applicant with full name and address, dated not later than 21 July
T

2003

• copy certificate of origin showing goods of Belgian origin

EX

• copy consular invoice mentioning import registration number 123

• 1/2 insurance policy for 110 percent of invoice value, covering all risks and war risks and srcc as per
institute cargo clauses, including warehouse to warehouse clause
N

• packing list in 4 copies

• copy of airmail letter addressed to the applicant showing that one original of all documents have been sent
directly to them within three days after bill of lading date

• the certificate of origin may also indicate that goods are of EEC origin instead of Belgian origin

• drafts are to be marked as drawn under this documentary credit

• documents must be presented within 10 days after bill of lading date

• please advise beneficiaries adding your confirmation

• all documents must be forwarded to us in one lot

• all charges are for account of the beneficiary except commission related to the acceptance of the draft

Shipment is from Antwerp to Stockholm.

At maturity of the draft, reimbursement is to be claimed at Manufacturers Hanover Trust Company, New York.

19 September 2008 65
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Transshipment and partial shipments are not allowed.

The credit is subject to ICC UCP 500.

Skandinaviska Enskilda Banken issues the documentary credit, sending an MT 700/701 to Generale Bank,
Brussels, the advising bank.

(To review the MT 740 and MT 747 related to this documentary credit, see MT 740 Authorisation to
Reimburse and MT 747 Amendment to Authorisation to Reimburse.)

Information Flow

N
IO
RS
VE
T

SWIFT Message
EX

Message A MT 700

Note: The number of characters in the following messages does not exceed the maximum input message
length. Three messages are used to illustrate the use of the fields of the MT 700/701.
N

Explanation Format

Sender ESSESESS

Message Type 700

Receiver GEBABEBB

Message Text

Sequence of Total :27:1/3

Form of D/C :40A:IRREVOCABLE

D/C Number :20:DC.IMP 3410/3444

Applicable Rules :40E:UCP LATEST VERSION

66 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

Explanation Format

Date and Place of Expiry :31D:030730BRUSSELS

Applicant :50:SOLVIA AB
PO BOX 123
UPSALA, SWEDEN

Beneficiary :59:PROQUINAL S.A.

48 RUE DE LA BOURSE
BRUSSELS

Curr/Amount :32B:USD31500,

Available With ... :41A:GEBABEBB

By ... BY ACCEPTANCE

Drafts at ... :42C:30 DYS AFTER BLADING

N
Drawn on ... :42A:GEBABEBB36A

IO
Partial Shipment :43P:NOT ALLOWED

Transshipment :43T:NOT ALLOWED

Loading ... RS:44A:ANTWERP

Transport ... :44B:STOCKHOLM

Additional Conditions :47A:+THE CERTIFICATE OF ORIGIN MAY ALSO

INDICATE THAT GOODS ARE OF EEC ORIGIN
VE

INSTEAD OF BELGIAN ORIGIN

+DRAFTS ARE TO BE MARKED AS DRAWN UNDER
THIS
DOCUMENTARY CREDIT

Charges :71B:ALL CHARGES FOR THE BENEFICIARY'S

T

ACCOUNT EXCEPT
COMMISSION RELATED TO THE ACCEPTANCE OF THE
EX

DRAFT

Period for Presentation :48:DOCUMENTS MUST BE PRESENTED WITHIN 10

DAYS AFTER BILL OF LADING DATE

Confirm Inst.
N

:49:CONFIRM

Reimbursement :53A:MAHAUS33

Instructions :78:ALL DOCUMENTS MUST BE FORWARDED TO US

IN ONE LOT

End of Message Text/Trailer

Message B MT 701

Explanation Format

Sender ESSESESS

Message Type 701

Receiver GEBABEBB

19 September 2008 67
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Message Text

Sequence of Total :27:2/3

D/C Number :20:DC.IMP 3410/3444

Description :45B:+1 2209 B-4,CPU 16K MEMORY 6 I/O SLOTS

of Goods 177-2200-74
+1 2219 B-GR, 12 IN CRT (64 X 16) U/L
KEYBOARD WITH SINGLE MINIDISKETTE WITH
CONTROLLER
+1 AP 101 ADDITIONAL MINIDISKETTE DRIVE
+2 2291 W-2 GR, 120 CHAR.SEC. PRINTER, 12
PITCH 132 CHAR PER LINE
+1 2209 B-4 CPU 16K MEMORY 6 I/O SLOTS

N
+1 2229 B-CR 12 IN CRT (64 X 16) U/L
KEYBOARD CON-SOLE WITH CONTR
+1 2291 W-2 - GR. LINE PRINTER

IO
+1 2269D 1/2, 2,5 MB-P + 2,5 MB-R DISKDRIVE
+1 MEMORY ROM 210-6298
+1 POWER REGULATOR 210-0341
+1 ROM T-LOADING 210-6705
RS +1 POWER SUPPLY REGULATOR 210-6756
+1 COSS INTERFACE 210-7068
+1 RIBBON ASSY 279-0181
+2 HUB LAMP ASSY 726-1021
+1 AIR FILTER 726-0414
VE

+CIF STOCKHOLM

End of Message Text/Trailer

Message C MT 701
T

Explanation Format
EX

Sender ESSESESS

Message Type 701

Receiver GEBABEBB
N

Message Text

Sequence of Total :27:3/3

D/C Number :20:DC.IMP 3410/3444

68 Message Reference Guide

 MT 707 Amendment to a Documentary Credit

Explanation Format

Documents Required :46B:+SIGNED COMMERCIAL INVOICE IN

SEVENFOLD
+2/3 CLEAN ON BOARD OCEAN BILLS OF LADING
MARKED
FREIGHT PREPAID CONSIGNED TO THE ORDER OF
BENEFICIARY'S AND ENDORSED IN BLANK, MARKED
NOTIFY
APPLICANT WITH FULL NAME AND ADDRESS, DATED
NOT
LATER THAN 21 JULY 2003
+COPY CERTIFICATE OF ORIGIN SHOWING GOODS
OF
BELGIAN ORIGIN
+COPY CONSULAR INVOICE MENTIONING IMPORT

N
REGISTRATION NUMBER 123
+1/2 INSURANCE POLICY FOR 110 PERCENT OF
INVOICE

IO
VALUE, COVERING ALL RISKS AND WAR RISKS AND
SRCC
AS PER INSTITUTE CARGO CLAUSES, INCLUDING
WAREHOUSE TO WAREHOUSE CLAUSE
RS +PACKING LIST IN 4 COPIES
+COPY OF AIRMAIL LETTER ADDRESSED TO THE
APPLICANT SHOWING THAT ONE ORIGINAL OF ALL
DOCUMENTS
HAVE BEEN SENT DIRECTLY TO THEM WITHIN
VE
THREE DAYS
AFTER BILL OF LADING DATE

End of Message Text/Trailer

T

Example 2: Amendment to a Documentary Credit

EX

Narrative

On 21 May 2003, Skandinaviska Enskilda Banken subsequently notifies Generale Bank of the following
changes to the terms and conditions of the documentary credit issued on 17 May 2003:
N

• The expiry date of the credit has been extended to 30 September 2003.

• The amount of the credit has been increased by USD 3,250 to USD 34,750.

• The bill of lading is to be issued not later than 20 September 2003.

19 September 2008 69
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Information Flow

N
IO
SWIFT Message

Explanation RS Format

Sender ESSESESS

Message Type 707

VE
Receiver GEBABEBB

Message Text

Sender's Reference :20:DC.IMP 3410/3444

Receiver's Reference
T

:21:NONREF

Date of Issue :31C:030517

EX

Date of Amendment :30:030521

Number of Amendment :26E:01

Beneficiary :59:PROQUINAL S.A.

N

48 RUE DE LA BOURSE
BRUSSELS

New Date of Expiry :31E:030930

Increase of D/C :32B:USD3250,

New D/C Amount :34B:USD34750,

Narrative :79:BILLS OF LADING TO BE ISSUED NOT LATER

THAN 20 SEPTEMBER 2003

End of Message Text/Trailer

70 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

MT 710 Advice of a Third Bank's or a Non-Bank's

Documentary Credit

MT 710 Scope
This message is sent by an advising bank, which has received a documentary credit from the issuing bank or
the non-bank issuer, to the bank advising the beneficiary or another advising bank.

It is used to advise the Receiver about the terms and conditions of a documentary credit.

MT 710 Format Specifications

N
MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit
Status Tag Field Name Content/Options No.

IO
M 27 Sequence of Total 1!n/1!n 1

M 40B Form of Documentary Credit 24x 2

24x

M
20

21
Sender's Reference
RS
Documentary Credit Number
16x

16x
3

O 23 Reference to Pre-Advice 16x 5

VE

M 31C Date of Issue 6!n 6

M 40E Applicable Rules 30x[/35x] 7

M 31D Date and Place of Expiry 6!n29x 8

T

O 52a Issuing Bank A or D 9

EX

O 50B Non-Bank Issuer 4*35x 10

O 51a Applicant Bank A or D 11

M 50 Applicant 4*35x 12
N

M 59 Beneficiary [/34x] 13
4*35x

M 32B Currency Code, Amount 3!a15d 14

O 39A Percentage Credit Amount Tolerance 2n/2n 15

O 39B Maximum Credit Amount 13x 16

O 39C Additional Amounts Covered 4*35x 17

M 41a Available With ... By ... A or D 18

O 42C Drafts at ... 3*35x 19

O 42a Drawee A or D 20

O 42M Mixed Payment Details 4*35x 21

19 September 2008 71
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Status Tag Field Name Content/Options No.

O 42P Deferred Payment Details 4*35x 22

O 43P Partial Shipments 1*35x 23

O 43T Transshipment 1*35x 24

O 44A Place of Taking in Charge/Dispatch from .../Place 1*65x 25

of Receipt

O 44E Port of Loading/Airport of Departure 1*65x 26

O 44F Port of Discharge/Airport of Destination 1*65x 27

O 44B Place of Final Destination/For Transportation to .../ 1*65x 28

Place of Delivery

O 44C Latest Date of Shipment 6!n 29

N
O 44D Shipment Period 6*65x 30

IO
O 45A Description of Goods and/or Services 100*65x 31

O 46A Documents Required 100*65x 32

O 47A Additional Conditions

RS 100*65x 33

O 71B Charges 6*35x 34

O 48 Period for Presentation 4*35x 35

VE
M 49 Confirmation Instructions 7!x 36

O 53a Reimbursing Bank A or D 37

O 78 Instructions to the Paying/Accepting/Negotiating 12*65x 38

Bank
T

O 57a 'Advise Through' Bank A, B, or D 39

O 72 Sender to Receiver Information 6*35x

EX

40

M = Mandatory, O = Optional

MT 710 Network Validated Rules

N

C1 Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C2 When used, fields 42C and 42a must both be present (Error code(s): C90).

C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other
combination of these fields is allowed (Error code(s): C90).

C4 Either field 44C or 44D, but not both, may be present (Error code(s): D06).

C5 Either field 52a "Issuing Bank" or field 50B "Non-Bank Issuer", but not both, must be present (Error
code(s): C06).

72 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

MT 710 Usage Rules

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 711s. Up to three MT 711s may
be sent in addition to the MT 710.

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, if the Receiver does not further transmit the credit by another
MT 710, it must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves, us, or you.

N
• If this message is used to advise a non-bank issued documentary credit, field 50B must be present.

• The advising bank must advise a documentary credit, including all its details, in a way that is clear and

IO
unambiguous to the beneficiary.

MT 710 Field Specifications RS

1. Field 27: Sequence of Total
FORMAT
VE

1!n/1!n (Number)(Total)

PRESENCE
T

Mandatory
EX

DEFINITION

This field specifies the number of this message in the series of messages sent for a documentary credit, and
the total number of messages in the series.
N

2. Field 40B: Form of Documentary Credit

FORMAT

Option B 24x (Type)

24x (Code)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit and whether or not the Sender is adding its confirmation to the credit.

19 September 2008 73
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

CODES

Type must contain one of the following codes (Error code(s): T64):

IRREVOCABLE The documentary credit is irrevocable.

REVOCABLE The documentary credit is revocable.

IRREVOCABLE TRANSFERABLE The documentary credit is irrevocable and transferable.

REVOCABLE TRANSFERABLE The documentary credit is revocable and transferable.

IRREVOCABLE STANDBY The standby letter of credit is irrevocable.

REVOCABLE STANDBY The standby letter of credit is revocable.

IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable.

N
CODES

Code must contain one of the following codes (Error code(s): T66):

IO
ADDING OUR CONFIRMATION The Sender is adding its confirmation to the credit.

WITHOUT OUR CONFIRMATION The Sender is not adding its confirmation to the credit.

USAGE RULES
RS
Details of any special conditions applying to the transferability of the credit and/or the bank authorised to
transfer the credit in a freely negotiable credit should be included in field 47A Additional Conditions.
VE

3. Field 20: Sender's Reference

FORMAT
T

16x
EX

PRESENCE

Mandatory
N

DEFINITION

This field contains the reference number which the Sender has assigned to the documentary credit.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

4. Field 21: Documentary Credit Number

FORMAT

16x

74 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

PRESENCE

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the issuing bank.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

5. Field 23: Reference to Pre-Advice

FORMAT

N
16x

IO
PRESENCE

Optional

DEFINITION
RS
This field specifies if the documentary credit has been pre-advised.
VE

USAGE RULES

This field must contain the code PREADV followed by a slash '/' and a reference to the pre-advice, for
example, by date.
T

6. Field 31C: Date of Issue

EX

FORMAT

Option C 6!n (Date)

PRESENCE
N

Mandatory

DEFINITION

This field specifies the date on which the issuing bank considers the documentary credit as being issued.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

If this field was not present in the MT 700/701 Issue of a Documentary Credit, the date of issue is the date on
which the MT 700/701 was sent.

19 September 2008 75
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

7. Field 40E: Applicable Rules

FORMAT

Option E 30x[/35x] (Applicable Rules)(Narrative)

PRESENCE

Mandatory

DEFINITION

This field specifies the rules the credit is subject to.

CODES

N
One of the following codes must be used (Error code(s): T59)

EUCP LATEST VERSION The credit is subject to the version of the Supplement of the

IO
ICC Uniform Customs and Practice for Documentary Credits
for Electronic Presentations, International Chamber of
Commerce, Paris, France, which is in effect on the date of
RS issue.

EUCPURR LATEST VERSION The credit is subject to the version of the Supplement of the
ICC Uniform Customs and Practice for Documentary Credits
for Electronic Presentations, International Chamber of
VE
Commerce, Paris, France, which is in effect on the date of
issue. The reimbursement is subject to the version of the
Uniform Rules for Bank-to-Bank Reimbursements,
International Chamber of Commerce, Paris, France, which is in
effect on the date of issue.

ISP LATEST VERSION The standby letter of credit is subject to the version of the ICC
T

International Standby Practices, International Chamber of

Commerce, Paris, France, which is in effect on the date of
EX

issue.

OTHR The credit is subject to any other rules.

UCP LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International
N

Chamber of Commerce, Paris, France, which is in effect on the

date of issue.

UCPURR LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International
Chamber of Commerce, Paris, France, which is in effect on the
date of issue. The reimbursement is subject to the version of
the Uniform Rules for Bank-to-Bank Reimbursements under
documentary credits, International Chamber of Commerce,
Paris, France, which is in effect on the date of issue.

NETWORK VALIDATED RULES

Subfield 2 of field 40E, that is, "/"35x, is only allowed when subfield 1 of this field consists of OTHR (Error
code(s): D81).

76 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

8. Field 31D: Date and Place of Expiry

FORMAT

Option D 6!n29x (Date)(Place)

PRESENCE

Mandatory

DEFINITION

This field specifies the latest date for presentation under the documentary credit and the place where
documents may be presented.

NETWORK VALIDATED RULES

N
Date must be a valid date expressed as YYMMDD (Error code(s): T50).

IO
9. Field 52a: Issuing Bank
FORMAT RS
Option A [/1!a][/34x] (Party Identifier)
4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)(Name & Address)
VE
4*35x

PRESENCE

Conditional (see rule C5)

T

DEFINITION
EX

This field specifies the issuing bank of the credit.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

N

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

10. Field 50B: Non-Bank Issuer

FORMAT

Option B 4*35x (Name & Address)

PRESENCE

Conditional (see rule C5)

19 September 2008 77
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies the non-bank issuer of the credit.

11. Field 51a: Applicant Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

N
Optional

DEFINITION

IO
This field specifies the bank of the applicant customer, if different from the issuing bank.

NETWORK VALIDATED RULES

RS
Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
VE

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

12. Field 50: Applicant

T

FORMAT
EX

4*35x (Name & Address)

PRESENCE

Mandatory
N

DEFINITION

This field specifies the party on behalf of which the documentary credit has been issued.

13. Field 59: Beneficiary

FORMAT

[/34x] (Account)
4*35x (Name & Address)

PRESENCE

Mandatory

78 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

DEFINITION

This field specifies the party in favour of which the documentary credit has been issued.

14. Field 32B: Currency Code, Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

N
This field contains the currency code and amount of the documentary credit.

IO
NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
RS
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES
VE

Special information relative to the amount of the credit must be specified in field 39B Maximum Credit Amount.

15. Field 39A: Percentage Credit Amount Tolerance

T

FORMAT
EX

Option A 2n/2n (Tolerance 1)(Tolerance 2)

PRESENCE

Conditional (see rule C1)

N

DEFINITION

This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus
that amount.

USAGE RULES

Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

16. Field 39B: Maximum Credit Amount

FORMAT

Option B 13x (Code)

19 September 2008 79
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Conditional (see rule C1)

DEFINITION

This field further qualifies the documentary credit amount.

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

17. Field 39C: Additional Amounts Covered

N
FORMAT

IO
Option C 4*35x (Narrative)

PRESENCE

Optional
RS
DEFINITION
VE
This field specifies any additional amounts covered such as insurance, freight, interest, etc.

18. Field 41a: Available With ... By ...

FORMAT
T

Option A 4!a2!a2!c[3!c] (Identifier Code)

14x (Code)
EX

Option D 4*35x (Name & Address)

14x (Code)

PRESENCE
N

Mandatory

DEFINITION

This field identifies the bank with which the credit is available (the place for presentation) and an indication of
how the credit is available.

CODES

In option A, or D, Code must contain one of the following codes (Error code(s): T68):

BY ACCEPTANCE

BY DEF PAYMENT

BY MIXED PYMT

80 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

BY NEGOTIATION

BY PAYMENT

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

For credits subject to eUCP:

N
• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in field 47A and not in this field.

IO
• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in field 47A and not
in this field.
RS
If the credit is to be freely negotiable by any bank, option D must be used with the phrase Any bank in ... (city
or country).

If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country is not
VE
required.

When Code contains either BY DEF PAYMENT or BY MIXED PYMT, the specific details of the payment terms
must be specified in fields 42P and 42M respectively.

When Code contains BY PAYMENT, this should be understood to mean payment at sight.
T

19. Field 42C: Drafts at ...

EX

FORMAT

Option C 3*35x (Narrative)

N

PRESENCE

Conditional (see rules C2 and C3)

DEFINITION

This field specifies the tenor of drafts to be drawn under the documentary credit.

20. Field 42a: Drawee

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

19 September 2008 81
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Option D [/1!a][/34x] (Party Identifier)

4*35x (Name & Address)

PRESENCE

Conditional (see rules C2 and C3)

DEFINITION

This field identifies the drawee of the drafts to be drawn under the documentary credit.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more

N
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

IO
USAGE RULES

The drawee must be a bank. If drafts on the applicant are required, they are to be listed as documents in field
46A. RS
The Party Identifier must not be present.

21. Field 42M: Mixed Payment Details

VE

FORMAT

Option M 4*35x (Narrative)

T

PRESENCE
EX

Conditional (see rule C3)

DEFINITION

This field specifies the payment dates, amounts and/or method for their determination in a documentary credit
N

which is available by mixed payment.

22. Field 42P: Deferred Payment Details

FORMAT

Option P 4*35x (Narrative)

PRESENCE

Conditional (see rule C3)

82 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

DEFINITION

This field specifies the payment date or method for its determination in a documentary credit which is available
by deferred payment only.

23. Field 43P: Partial Shipments

FORMAT

Option P 1*35x (Narrative)

PRESENCE

Optional

DEFINITION

N
This field specifies whether or not partial shipments are allowed under the documentary credit.

IO
24. Field 43T: Transshipment
FORMAT RS
Option T 1*35x (Narrative)

PRESENCE
VE

Optional

DEFINITION
T

This field specifies whether or not transshipment is allowed under the documentary credit.
EX

25. Field 44A: Place of Taking in Charge/Dispatch from .../Place of

Receipt
FORMAT
N

Option A 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the place of taking in charge (in case of a multimodal transport document), the place of
receipt (in case of a road, rail or inland waterway transport document or a courier or expedited delivery service
document), the place of dispatch or the place of shipment to be indicated on the transport document.

19 September 2008 83
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

26. Field 44E: Port of Loading/Airport of Departure

FORMAT

Option E 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the port of loading or airport of departure to be indicated on the transport document.

27. Field 44F: Port of Discharge/Airport of Destination

N
FORMAT

IO
Option F 1*65x (Narrative)

PRESENCE

Optional
RS
DEFINITION
VE
This field specifies the port of discharge or airport of destination to be indicated on the transport document.

28. Field 44B: Place of Final Destination/For Transportation to .../Place

of Delivery
T

FORMAT
EX

Option B 1*65x (Narrative)

PRESENCE
N

Optional

DEFINITION

This field specifies the final destination or place of delivery to be indicated on the transport document.

29. Field 44C: Latest Date of Shipment

FORMAT

Option C 6!n (Date)

PRESENCE

Conditional (see rule C4)

84 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

DEFINITION

This field specifies the latest date for loading on board/dispatch/taking in charge.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

30. Field 44D: Shipment Period

FORMAT

Option D 6*65x (Narrative)

PRESENCE

N
Conditional (see rule C4)

IO
DEFINITION

This field specifies the period of time during which the goods are to be loaded on board/despatched/taken in
charge.
RS
31. Field 45A: Description of Goods and/or Services
FORMAT
VE

Option A 100*65x (Narrative)

PRESENCE
T

Optional

DEFINITION
EX

This field contains a description of the goods and/or services.

USAGE RULES
N

Terms such as FOB, CIF, etc. should be specified in this field.

To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.
However, field 45a may appear in only one message, that is, either in the MT 710 or in one MT 711.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
description of goods and/or services.

Some examples of valid combinations:

• MT 710 contains field 45A, 46A, and 47A.

• MT 710 contains field 45A; the subsequent MT 711 contains fields 46B and 47B.

• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.

19 September 2008 85
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.

Some examples of invalid combinations:

• MT 710 contains field 45A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
47B (INVALID because there are two fields 45a).

• MT 710 contains field 45A; the first MT 711 contains field 45B; the second MT 711 contains fields 45B,
46B and 47B (INVALID because there are three fields 45a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

32. Field 46A: Documents Required

FORMAT

N
Option A 100*65x (Narrative)

IO
PRESENCE

Optional

DEFINITION RS
This field contains a description of any documents required.

USAGE RULES
VE

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.
T

To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.
EX

However, field 46a may appear in only one message, that is, either in the MT 710 or in one MT 711.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
documents required.
N

Some examples of valid combinations:

• MT 710 contains field 45A, 46A, and 47A.

• MT 710 contains field 45A; the subsequent MT 711 contains fields 46B and 47B.

• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.

• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.

Some examples of invalid combinations:

• MT 710 contains field 46A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
47B (INVALID because there are two fields 46a).

86 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

• MT 710 contains field 46A; the first MT 711 contains field 46B; the second MT 711 contains fields 45B,
46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

33. Field 47A: Additional Conditions

FORMAT

Option A 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

N
This field contains a description of further conditions of the documentary credit.

IO
USAGE RULES

In case the documentary credit is subject to any rules for which no code words are provided in field 40E,
further details should be specified in this field.
RS
To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.
However, field 47a may appear in only one message, that is, either in the MT 710 or in one MT 711. This
means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
VE
conditions.

Some examples of valid combinations:

• MT 710 contains field 45A, 46A, and 47A.

• MT 710 contains field 47A; the subsequent MT 711 contains fields 45B and 46B.
T

• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.
EX

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.

• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.
N

Some examples of invalid combinations:

• MT 710 contains field 47A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
47B (INVALID because there are two fields 47a).

• MT 710 contains field 47A; the first MT 711 contains field 47B; the second MT 711 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

Where applicable, for credits subject to eUCP:

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.

19 September 2008 87
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
message, must provide the beneficiary or another advising bank with the electronic address of the issuing
bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".

Examples:

◦ EUCP@DRESDNER-BANK.COM should be shown as

EUCP(AT)DRESDNER-BANK.COM

◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM

The specification of each new item should begin on a new line, preceded by the sign '+'.

N
EXAMPLE

IO
:47A:+NOT SUBJECT TO ICC UCP500

:47A:+SUBJECT TO ICC EUCP VERSION 1.0

34. Field 71B: Charges

RS
FORMAT
VE

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

T

information]
Lines 2-6 [//continuation of additional
EX

information]

PRESENCE
N

Optional

DEFINITION

This field may be used only to specify charges to be borne by the beneficiary.

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

DISC Commercial discount

88 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES

In the absence of this field, all charges, except negotiation and transfer charges, are to be borne by the
applicant.

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in

N
the field.

IO
35. Field 48: Period for Presentation
FORMAT

4*35x
RS
(Narrative)

PRESENCE
VE
Optional

DEFINITION

This field specifies the period of time after the date of shipment within which the documents must be
presented for payment, acceptance or negotiation.
T

USAGE RULES
EX

The period for presentation is expressed in number of days.

The absence of this field means that the presentation period is 21 days, where applicable.
N

36. Field 49: Confirmation Instructions

FORMAT

7!x (Instruction)

PRESENCE

Mandatory

DEFINITION

This field contains confirmation instructions for the Receiver.

19 September 2008 89
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

CODES

One of the following codes must be used (Error code(s): T67):

CONFIRM The Receiver is requested to confirm the credit.

MAY ADD The Receiver may add its confirmation to the credit.

WITHOUT The Receiver is not requested to confirm the credit.

37. Field 53a: Reimbursing Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

N
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

IO
PRESENCE

Optional

DEFINITION
RS
This field specifies the name of the bank or branch of the Receiver which has been authorised by the issuing
bank to reimburse drawings under the documentary credit.
VE

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
T

information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
EX

code(s): C05).

USAGE RULES

The absence of this field does not imply authority to debit the Sender.
N

38. Field 78: Instructions to the Paying/Accepting/Negotiating Bank

FORMAT

12*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies instructions to the paying, accepting or negotiating bank. It may also indicate if pre-
notification of a reimbursement claim or pre-debit notification to the issuing bank is required.

90 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

USAGE RULES

When used to indicate pre-notification of a reimbursement claim or pre-debit notification to the issuing bank is
required, the number and type, that is, banking or calendar, of days within which the issuing bank has to be
notified should also be indicated.

39. Field 57a: 'Advise Through' Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)

N
4*35x (Name & Address)

PRESENCE

IO
Optional

DEFINITION RS
This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary.
VE
NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
T

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
EX

40. Field 72: Sender to Receiver Information

FORMAT
N

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Optional

19 September 2008 91
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used:

PHONBEN Please advise/contact beneficiary by phone.

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication.

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in

N
the field.

IO
MT 710 Examples
Narrative
RS
ABC Company in Austria imports beer from Amdam Company in the Netherlands under a documentary credit.

ABC Co.'s bank is Oesterreichische Laenderbank, Vienna. Amdam Co.'s bank is Bank Mees en Hope,
Amsterdam.
VE

Oesterreichische Laenderbank issues its documentary credit, number 12345, through its correspondent in
Amsterdam, Amsterdam-Rotterdam Bank. (To review the terms and conditions of the documentary credit, see
MT 700 Issue of a Documentary Credit.)

Amsterdam-Rotterdam Bank advises the credit (reference 606487) through Bank Mees en Hope, Amsterdam.
T
EX
N

92 Message Reference Guide

 MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit

Information Flow

N
IO
RS
VE

SWIFT Message

Explanation Format
T

Sender AMRONL2A

Message Type 710

EX

Receiver MEESNL2A

Message Text

Sequence of Total
N

:27:1/1

Form of Documentary Credit :40B:IRREVOCABLE

ADDING OUR CONFIRMATION

Sender's Reference :20:606487

Documentary Credit Number :21:12345

Reference to Pre-Advice :23:PREADV/030510

Date of Issue (Original D/C) :31C:030517

Applicable Rules :40E:UCP LATEST VERSION

Date and Place of Expiry :31D:030730AMSTERDAM

Issuing Bank :52A:OELBATWW

19 September 2008 93
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Applicant :50:ABC COMPANY

KAERNTNERSTRASSE 3
VIENNA

Beneficiary :59:AMDAM COMPANY

PO BOX 123
AMSTERDAM

Currency Code/Amount :32B:EUR100000,

Available With ... By ... :41A:AMRONL2A

BY PAYMENT

Partial Shipments :43P:ALLOWED

Transshipment :43T:ALLOWED

N
Taking in Charge ... :44A:AMSTERDAM

IO
For Transportation to ... :44B:VIENNA

Description of Goods :45A:+400,000 BOTTLES OF BEER

+PACKED 12 TO AN EXPORT CARTON
RS +FCA AMSTERDAM

Documents Required :46A:+SIGNED COMMERCIAL INVOICE IN

QUINTUPLICATE
+FORWARDING AGENTS CERTIFICATE OF RECEIPT
VE
SHOWING GOODS ADDRESSED TO THE APPLICANT

Period for Presentation :48:WITHIN 6 DAYS OF ISSUANCE OF FCR

Confirmation Instructions :49:WITHOUT

End of Message Text/Trailer

T
EX
N

94 Message Reference Guide

 MT 711 Advice of a Third Bank's or a Non-Bank's Documentary Credit

MT 711 Advice of a Third Bank's or a Non-Bank's

Documentary Credit

MT 711 Scope
This message is sent by an advising bank, which has received a documentary credit from the issuing bank or
the non-bank issuer, to the bank advising the beneficiary or another advising bank.

It is used to advise the Receiver about the terms and conditions of a documentary credit.

This message is sent in addition to an MT 710 Advice of a Third Bank's or a Non-Bank's Documentary Credit,
when the information in the documentary credit exceeds the maximum input message length of the MT 710.

N
MT 711 Format Specifications

IO
MT 711 Advice of a Third Bank's or a Non-Bank's Documentary Credit
Status Tag Field Name Content/Options No.

M 27 Sequence of Total 1!n/1!n 1

M 20
RS
Sender's Reference 16x 2

M 21 Documentary Credit Number 16x 3

O 45B Description of Goods and/or Services 100*65x 4

VE

O 46B Documents Required 100*65x 5

O 47B Additional Conditions 100*65x 6

M = Mandatory, O = Optional
T

MT 711 Network Validated Rules

EX

There are no network validated rules for this message type.

N

MT 711 Usage Rules

• Any rules the credit is subject to must be indicated in field 40E of the MT 710 this message relates to.

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 711s. Up to three MT 711s may
be sent in addition to the MT 710.

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, if the Receiver does not further transmit the credit by another
MT 710, it must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves, us, or you.

19 September 2008 95
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• The advising bank must advise a documentary credit, including all its details, in a way that is clear and
unambiguous to the beneficiary.

MT 711 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

PRESENCE

Mandatory

N
DEFINITION

IO
This field specifies the number of this message in the series of messages sent for a documentary credit, and
the total number of messages in the series.

2. Field 20: Sender's Reference RS

FORMAT

16x
VE

PRESENCE

Mandatory
T

DEFINITION

This field contains the reference number which the Sender has assigned to the documentary credit.
EX

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
N

3. Field 21: Documentary Credit Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the issuing bank.

96 Message Reference Guide

 MT 711 Advice of a Third Bank's or a Non-Bank's Documentary Credit

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

4. Field 45B: Description of Goods and/or Services

FORMAT

Option B 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

N
This field contains a description of the goods and/or services.

IO
USAGE RULES

Terms such as FOB, CIF, etc. should be specified in this field.

RS
To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.
However, field 45a may appear in only one message, that is, either in the MT 710 or in one MT 711.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
VE
description of goods and/or services.

Some examples of valid combinations:

• MT 710 contains field 45A; the subsequent MT 711 contains fields 46B and 47B.

• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.
T

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.
EX

• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.

Some examples of invalid combinations:

N

• MT 710 contains field 45A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
47B (INVALID because there are two fields 45a).

• MT 710 contains field 45A; the first MT 711 contains field 45B; the second MT 711 contains fields 45B,
46B and 47B (INVALID because there are three fields 45a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

5. Field 46B: Documents Required

FORMAT

Option B 100*65x (Narrative)

19 September 2008 97
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Optional

DEFINITION

This field contains a description of any documents required.

USAGE RULES

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.

To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.

N
However, field 46a may appear in only one message, that is, either in the MT 710 or in one MT 711.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the

IO
documents required.

Some examples of valid combinations:

• MT 710 contains field 45A; the subsequent MT 711 contains fields 46B and 47B.
RS
• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.
VE
• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.

Some examples of invalid combinations:

• MT 710 contains field 46A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
T

47B (INVALID because there are two fields 46a).

• MT 710 contains field 46A; the first MT 711 contains field 46B; the second MT 711 contains fields 45B,
EX

46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.
N

6. Field 47B: Additional Conditions

FORMAT

Option B 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field contains a description of further conditions of the documentary credit.

98 Message Reference Guide

 MT 711 Advice of a Third Bank's or a Non-Bank's Documentary Credit

USAGE RULES

In case the documentary credit is subject to any rules for which no code words are provided in field 40E of the
related MT 710, further details should be specified in this field.

To cater for lengthy documentary credits, up to three MT 711s may be sent in addition to an MT 710.
However, field 47a may appear in only one message, that is, either in the MT 710 or in one MT 711. This
means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
conditions.

Some examples of valid combinations:

• MT 710 contains field 47A; the subsequent MT 711 contains fields 45B and 46B.

• MT 710 contains field 46A; the subsequent MT 711 contains fields 45B and 47B.

• MT 710 contains field 46A; the first MT 711 contains field 45B; the second MT 711 contains field 47B.

N
• MT 710 does not contain fields 45A, 46A or 47A; the first MT 711 contains field 45B; the second MT 711
contains field 46B; the third MT 711 contains field 47B.

Some examples of invalid combinations:

IO
• MT 710 contains field 47A; the first MT 711 contains fields 45B and 46B; the second MT 711 contains field
47B (INVALID because there are two fields 47a).
RS
• MT 710 contains field 47A; the first MT 711 contains field 47B; the second MT 711 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

Where applicable, for credits subject to eUCP:

VE

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.
T

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
message, must provide the beneficiary or another advising bank with the electronic address of the issuing
EX

bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".
N

Examples:

◦ EUCP@DRESDNER-BANK.COM should be shown as

EUCP(AT)DRESDNER-BANK.COM

◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM

The specification of each new item should begin on a new line, preceded by the sign '+'.

EXAMPLE

:47B:+NOT SUBJECT TO ICC UCP500

:47B:+SUBJECT TO ICC EUCP VERSION 1.0

19 September 2008 99
Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 720 Transfer of a Documentary Credit

MT 720 Scope
When a beneficiary has requested the transfer of a documentary credit - originally issued by a bank or a non-
bank - to a second beneficiary, this message is sent by the bank authorised to advise the transfer of the
documentary credit, to the bank advising the second beneficiary.

It is used to advise the Receiver about the terms and conditions of the transferred documentary credit, or part
thereof.

MT 720 Format Specifications

N
MT 720 Transfer of a Documentary Credit
Status Tag Field Name Content/Options No.

IO
M 27 Sequence of Total 1!n/1!n 1

M 40B Form of Documentary Credit 24x 2

24x

M
20

21
RS
Transferring Bank's Reference

Documentary Credit Number

16x

16x
3

O 31C Date of Issue 6!n 5

VE

M 40E Applicable Rules 30x[/35x] 6

M 31D Date and Place of Expiry 6!n29x 7

O 52a Issuing Bank of the Original Documentary Credit A or D 8

T

O 50B Non-Bank Issuer of the Original Documentary 4*35x 9

Credit
EX

M 50 First Beneficiary 4*35x 10

M 59 Second Beneficiary [/34x] 11

4*35x
N

M 32B Currency Code, Amount 3!a15d 12

O 39A Percentage Credit Amount Tolerance 2n/2n 13

O 39B Maximum Credit Amount 13x 14

O 39C Additional Amounts Covered 4*35x 15

M 41a Available With ... By ... A or D 16

O 42C Drafts at ... 3*35x 17

O 42a Drawee A or D 18

O 42M Mixed Payment Details 4*35x 19

O 42P Deferred Payment Details 4*35x 20

O 43P Partial Shipments 1*35x 21

100 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Status Tag Field Name Content/Options No.

O 43T Transshipment 1*35x 22

O 44A Place of Taking in Charge/Dispatch from .../Place 1*65x 23

of Receipt

O 44E Port of Loading/Airport of Departure 1*65x 24

O 44F Port of Discharge/Airport of Destination 1*65x 25

O 44B Place of Final Destination/For Transportation to .../ 1*65x 26

Place of Delivery

O 44C Latest Date of Shipment 6!n 27

O 44D Shipment Period 6*65x 28

O 45A Description of Goods and/or Services 100*65x 29

N
O 46A Documents Required 100*65x 30

IO
O 47A Additional Conditions 100*65x 31

O 71B Charges 6*35x 32

O 48 Period for Presentation

RS 4*35x 33

M 49 Confirmation Instructions 7!x 34

O 78 Instructions to the Paying/Accepting/Negotiating 12*65x 35

Bank
VE

O 57a 'Advise Through' Bank A, B, or D 36

O 72 Sender to Receiver Information 6*35x 37

M = Mandatory, O = Optional
T

MT 720 Network Validated Rules

EX

C1 Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C2 When used, fields 42C and 42a must both be present (Error code(s): C90).
N

C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other
combination of these fields is allowed (Error code(s): C90).

C4 Either field 44C or 44D, but not both, may be present (Error code(s): D06).

C5 Either field 52a "Issuing Bank" or field 50B "Non-Bank Issuer", but not both, must be present (Error
code(s): C06).

MT 720 Usage Rules

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 721s. Up to three MT 721s may
be sent in addition to the MT 720.

19 September 2008 101

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, the Receiver must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves, us, or you.

• If this message is used to transfer a non-bank issued documentary credit, field 50B must be present.

• The transferring bank must transfer the documentary credit, including all its details, in a way that is clear
and unambiguous to the beneficiary.

MT 720 Field Specifications

N
1. Field 27: Sequence of Total

IO
FORMAT

1!n/1!n (Number)(Total)

PRESENCE
RS
Mandatory
VE

DEFINITION

This field specifies the number of this message in the series of messages sent for a documentary credit, and
the total number of messages in the series.
T

2. Field 40B: Form of Documentary Credit

EX

FORMAT

Option B 24x (Type)

24x (Code)
N

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit and whether or not the Sender is adding its confirmation to the credit.

CODES

Type must contain one of the following codes (Error code(s): T64):

IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable.

IRREVOCABLE The documentary credit/standby letter of credit is irrevocable.

102 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

REVOCABLE The documentary credit/standby letter of credit is revocable.

CODES

Code must contain one of the following codes (Error code(s): T66):

ADDING OUR CONFIRMATION The Sender is adding its confirmation to the credit.

WITHOUT OUR CONFIRMATION The Sender is not adding its confirmation to the credit.

3. Field 20: Transferring Bank's Reference

FORMAT

16x

N
PRESENCE

IO
Mandatory

DEFINITION
RS
This field contains the reference number which the transferring bank (Sender) has assigned to the
documentary credit.

NETWORK VALIDATED RULES

VE

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

4. Field 21: Documentary Credit Number

T

FORMAT
EX

16x

PRESENCE
N

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the issuing bank.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

19 September 2008 103

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

5. Field 31C: Date of Issue

FORMAT

Option C 6!n (Date)

PRESENCE

Optional

DEFINITION

This field specifies the date on which the issuing bank considers the documentary credit as being issued.

NETWORK VALIDATED RULES

N
Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

IO
The absence of this field in an MT 700/701 Issue of a Documentary Credit implies that the date of issue of that
documentary credit is the date on which the MT 700/701 was sent.
RS
It is strongly recommended that this field be included in the MT 720.

6. Field 40E: Applicable Rules

VE

FORMAT

Option E 30x[/35x] (Applicable Rules)(Narrative)

PRESENCE
T

Mandatory
EX

DEFINITION

This field specifies the rules the credit is subject to.

N

CODES

One of the following codes must be used (Error code(s): T59)

EUCP LATEST VERSION The credit is subject to the version of the Supplement of the
ICC Uniform Customs and Practice for Documentary Credits
for Electronic Presentations, International Chamber of
Commerce, Paris, France, which is in effect on the date of
issue.

104 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

EUCPURR LATEST VERSION The credit is subject to the version of the Supplement of the
ICC Uniform Customs and Practice for Documentary Credits
for Electronic Presentations, International Chamber of
Commerce, Paris, France, which is in effect on the date of
issue. The reimbursement is subject to the version of the
Uniform Rules for Bank-to-Bank Reimbursements,
International Chamber of Commerce, Paris, France, which is in
effect on the date of issue.

ISP LATEST VERSION The standby letter of credit is subject to the version of the ICC
International Standby Practices, International Chamber of
Commerce, Paris, France, which is in effect on the date of
issue.

OTHR The credit is subject to any other rules.

UCP LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International

N
Chamber of Commerce, Paris, France, which is in effect on the
date of issue.

IO
UCPURR LATEST VERSION The credit is subject to the version of the ICC Uniform
Customs and Practice for Documentary Credits, International
Chamber of Commerce, Paris, France, which is in effect on the
date of issue. The reimbursement is subject to the version of
RS the Uniform Rules for Bank-to-Bank Reimbursements under
documentary credits, International Chamber of Commerce,
Paris, France, which is in effect on the date of issue.
VE
NETWORK VALIDATED RULES

Subfield 2 of field 40E, that is "/"35x, is only allowed when subfield 1 of this field consists of OTHR (Error
code(s): D81).

7. Field 31D: Date and Place of Expiry

T

FORMAT
EX

Option D 6!n29x (Date)(Place)

PRESENCE
N

Mandatory

DEFINITION

This field specifies the latest date for presentation under the documentary credit and the place where
documents may be presented.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

19 September 2008 105

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

8. Field 52a: Issuing Bank of the Original Documentary Credit

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Conditional (see rule C5)

DEFINITION

N
This field specifies the issuing bank of the original documentary credit.

NETWORK VALIDATED RULES

IO
Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
RS
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES
VE

In the absence of this field, the Sender of the message is the issuing bank of the original documentary credit.

9. Field 50B: Non-Bank Issuer of the Original Documentary Credit

T

FORMAT
EX

Option B 4*35x (Name & Address)

PRESENCE

Conditional (see rule C5)

N

DEFINITION

This field specifies the non-bank issuer of the original documentary credit.

10. Field 50: First Beneficiary

FORMAT

4*35x (Name & Address)

PRESENCE

Mandatory

106 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

DEFINITION

This field specifies the party on behalf of which the documentary credit has been issued/transferred.

11. Field 59: Second Beneficiary

FORMAT

[/34x] (Account)
4*35x (Name & Address)

PRESENCE

Mandatory

DEFINITION

N
This field specifies the name of the beneficiary of the transferred credit, referred to in the UCP as the second

IO
beneficiary.

12. Field 32B: Currency Code, Amount

FORMAT
RS
Option B 3!a15d (Currency)(Amount)
VE

PRESENCE

Mandatory

DEFINITION
T

This field contains the currency code and amount of the documentary credit.
EX

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
N

included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

Special information relative to the amount of the credit must be specified in field 39B Maximum Credit Amount.

13. Field 39A: Percentage Credit Amount Tolerance

FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

19 September 2008 107

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Conditional (see rule C1)

DEFINITION

This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus
that amount.

USAGE RULES

Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

14. Field 39B: Maximum Credit Amount

FORMAT

N
Option B 13x (Code)

IO
PRESENCE

Conditional (see rule C1)

DEFINITION
RS
This field further qualifies the documentary credit amount.
VE

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

T

15. Field 39C: Additional Amounts Covered

EX

FORMAT

Option C 4*35x (Narrative)

N

PRESENCE

Optional

DEFINITION

This field specifies any additional amounts covered such as insurance, freight, interest, etc.

16. Field 41a: Available With ... By ...

FORMAT

Option A 4!a2!a2!c[3!c] (Identifier Code)

14x (Code)

108 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Option D 4*35x (Name & Address)

14x (Code)

PRESENCE

Mandatory

DEFINITION

This field identifies the bank with which the credit is available (the place for presentation) and an indication of
how the credit is available.

CODES

In option A, or D, Code must contain one of the following codes (Error code(s): T68):

N
BY ACCEPTANCE

BY DEF PAYMENT

IO
BY MIXED PYMT

BY NEGOTIATION

BY PAYMENT RS
NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

VE

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
T

USAGE RULES
EX

For credits subject to eUCP:

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in field 47A and not in this field.
N

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in field 47A and not
in this field.

If the credit is to be freely negotiable by any bank, option D must be used with the phrase Any bank in ... (city
or country).

If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country is not
required.

When Code contains either BY DEF PAYMENT or BY MIXED PYMT, the specific details of the payment terms
must be specified in field 42P and 42M.

When Code contains BY PAYMENT, this should be understood to mean payment at sight.

19 September 2008 109

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

17. Field 42C: Drafts at ...

FORMAT

Option C 3*35x (Narrative)

PRESENCE

Conditional (see rules C2 and C3)

DEFINITION

This field specifies the tenor of drafts to be drawn under the documentary credit.

18. Field 42a: Drawee

N
FORMAT

IO
Option A [/1!a][/34x] (Party Identifier)
4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x RS (Name & Address)

PRESENCE

Conditional (see rules C2 and C3)

VE

DEFINITION

This field identifies the drawee of the drafts to be drawn under the documentary credit.
T

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

EX

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
N

USAGE RULES

The drawee must be a bank. If drafts on the applicant are required, they are to be listed as documents in field
46A.

The Party Identifier must not be present.

19. Field 42M: Mixed Payment Details

FORMAT

Option M 4*35x (Narrative)

110 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

PRESENCE

Conditional (see rule C3)

DEFINITION

This field specifies the payment dates, amounts and/or method for their determination in a documentary credit
which is available by mixed payment.

20. Field 42P: Deferred Payment Details

FORMAT

Option P 4*35x (Narrative)

PRESENCE

N
Conditional (see rule C3)

IO
DEFINITION

This field specifies the payment date or method for its determination in a documentary credit which is available
by deferred payment only. RS
21. Field 43P: Partial Shipments
VE
FORMAT

Option P 1*35x (Narrative)

PRESENCE
T

Optional
EX

DEFINITION

This field specifies whether or not partial shipments are allowed under the documentary credit.
N

22. Field 43T: Transshipment

FORMAT

Option T 1*35x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies whether or not transshipment is allowed under the documentary credit.

19 September 2008 111

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

23. Field 44A: Place of Taking in Charge/Dispatch from .../Place of

Receipt
FORMAT

Option A 1*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field specifies the place of taking in charge (in case of a multimodal transport document), the place of
receipt (in case of a road, rail or inland waterway transport document or a courier or expedited delivery service

N
document), the place of dispatch or the place of shipment to be indicated on the transport document.

24. Field 44E: Port of Loading/Airport of Departure

IO
FORMAT

Option E 1*65x RS (Narrative)

PRESENCE

Optional
VE

DEFINITION

This field specifies the port of loading or airport of departure to be indicated on the transport document.
T

25. Field 44F: Port of Discharge/Airport of Destination

EX

FORMAT

Option F 1*65x (Narrative)

N

PRESENCE

Optional

DEFINITION

This field specifies the port of discharge or airport of destination to be indicated on the transport document.

26. Field 44B: Place of Final Destination/For Transportation to .../Place

of Delivery
FORMAT

Option B 1*65x (Narrative)

112 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

PRESENCE

Optional

DEFINITION

This field specifies the final destination or place of delivery to be indicated on the transport document.

27. Field 44C: Latest Date of Shipment

FORMAT

Option C 6!n (Date)

PRESENCE

N
Conditional (see rule C4)

IO
DEFINITION

This field specifies the latest date for loading on board/dispatch/taking in charge.

NETWORK VALIDATED RULES RS

Date must be a valid date expressed as YYMMDD (Error code(s): T50).
VE
28. Field 44D: Shipment Period
FORMAT

Option D 6*65x (Narrative)

T

PRESENCE
EX

Conditional (see rule C4)

DEFINITION

This field specifies the period of time during which the goods are to be loaded on board/despatched/taken in
N

charge.

29. Field 45A: Description of Goods and/or Services

FORMAT

Option A 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field contains a description of the goods and/or services.

19 September 2008 113

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

USAGE RULES

Terms such as FOB, CIF, etc. should be specified in this field.

To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.
However, field 45a may appear in only one message, that is, either in the MT 720 or in one MT 721.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
description of goods and/or services.

Some examples of valid combinations:

• MT 720 contains field 45A, 46A, and 47A.

• MT 720 contains field 45A; the subsequent MT 721 contains fields 46B and 47B.

• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.

N
• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

IO
Some examples of invalid combinations:

• MT 720 contains field 45A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
RS
47B (INVALID because there are two fields 45a).

• MT 720 contains field 45A; the first MT 721 contains field 45B; the second MT 721 contains fields 45B,
46B and 47B (INVALID because there are three fields 45a).
VE
The specification of each new item should begin on a new line, preceded by the sign '+'.

30. Field 46A: Documents Required

FORMAT
T

Option A 100*65x (Narrative)

EX

PRESENCE

Optional
N

DEFINITION

This field contains a description of any documents required.

USAGE RULES

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.

To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.
However, field 46a may appear in only one message, that is, either in the MT 720 or in one MT 721.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
documents required.

114 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Some examples of valid combinations:

• MT 720 contains field 45A, 46A, and 47A.

• MT 720 contains field 45A; the subsequent MT 721 contains fields 46B and 47B.

• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.

• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

Some examples of invalid combinations:

• MT 720 contains field 46A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
47B (INVALID because there are two fields 46a).

• MT 720 contains field 46A; the first MT 721 contains field 46B; the second MT 721 contains fields 45B,

N
46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

IO
31. Field 47A: Additional Conditions
FORMAT RS
Option A 100*65x (Narrative)
VE
PRESENCE

Optional

DEFINITION
T

This field contains a description of further conditions of the documentary credit.

USAGE RULES
EX

In case the documentary credit is subject to any rules for which no code words are provided in field 40E,
further details should be specified in this field.

To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.
N

However, field 47a may appear in only one message, that is, either in the MT 720 or in one MT 721. This
means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
conditions.

Some examples of valid combinations:

• MT 720 contains field 45A, 46A, and 47A.

• MT 720 contains field 47A; the subsequent MT 721 contains fields 45B and 46B.

• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.

• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

19 September 2008 115

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Some examples of invalid combinations:

• MT 720 contains field 47A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
47B (INVALID because there are two fields 47a).

• MT 720 contains field 47A; the first MT 721 contains field 47B; the second MT 721 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

Where applicable, for credits subject to eUCP:

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
message, must provide the beneficiary or another advising bank with the electronic address of the issuing

N
bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

IO
• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".

Examples: RS
◦ EUCP@DRESDNER-BANK.COM should be shown as

EUCP(AT)DRESDNER-BANK.COM
VE
◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM

The specification of each new item should begin on a new line, preceded by the sign '+'.
T

EXAMPLE
EX

:47A:+NOT SUBJECT TO ICC UCP500

:47A:+SUBJECT TO ICC EUCP VERSION 1.0

32. Field 71B: Charges

N

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional

116 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

DEFINITION

This field may be used only to specify charges to be borne by the beneficiary.

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

N
POST Our postage

STAMP Stamp duty

IO
TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES
RS
In the absence of this field, all charges, except negotiation and transfer charges, are to be borne by the
applicant.
VE

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.
T

33. Field 48: Period for Presentation

EX

FORMAT

4*35x (Narrative)

PRESENCE
N

Optional

DEFINITION

This field specifies the period of time after the date of shipment within which the documents must be
presented for payment, acceptance or negotiation.

USAGE RULES

The period for presentation is expressed in number of days.

The absence of this field means that the presentation period is 21 days, where applicable.

19 September 2008 117

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

34. Field 49: Confirmation Instructions

FORMAT

7!x (Instruction)

PRESENCE

Mandatory

DEFINITION

This field contains confirmation instructions for the Receiver.

CODES

N
One of the following codes must be used (Error code(s): T67):

CONFIRM The Receiver is requested to confirm the credit.

IO
MAY ADD The Receiver may add its confirmation to the credit.

WITHOUT The Receiver is not requested to confirm the credit.

RS
35. Field 78: Instructions to the Paying/Accepting/Negotiating Bank
VE
FORMAT

12*65x (Narrative)

PRESENCE
T

Optional
EX

DEFINITION

This field specifies instructions to the paying, accepting or negotiating bank. It may also indicate if pre-
notification of a reimbursement claim or pre-debit notification to the issuing bank is required.
N

USAGE RULES

When used to indicate pre-notification of a reimbursement claim or pre-debit notification to the issuing bank is
required, the number and type, that is, banking or calendar, of days within which the issuing bank has to be
notified should also be indicated.

36. Field 57a: 'Advise Through' Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)

118 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Option D [/1!a][/34x] (Party Identifier)

4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

This field identifies the bank, if different from the Receiver, through which the documentary credit is to be
advised/confirmed to the beneficiary.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

N
Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

IO
37. Field 72: Sender to Receiver Information
FORMAT
RS
6*35x (Narrative)
VE
In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
T

or
[/8c/[additional information]]
EX

PRESENCE

Optional
N

DEFINITION

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used:

PHONBEN Please advise/contact beneficiary by phone.

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication.

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

19 September 2008 119

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 720 Examples
Example 1: Issue of a Documentary Credit
Narrative

Motoimport, PO Box 9, Amsterdam, orders motor cycle and car parts from London Motospares Ltd., 12 Cycle
Square, London.

London Motospares Ltd. will obtain these parts from Cyclist Ltd., Singapore. It therefore requests a
transferable documentary credit in its own favour and transfers it in favour of Cyclist Ltd.

N
Motoimport banks with Nederlandsche Middenstandsbank, Amsterdam.

London Motospares Ltd. banks with Royal Bank of Scotland, London.

IO
Cyclist Ltd. banks with the Hong Kong and Shanghai Banking Corporation, Singapore.

The documentary credit is comprised of the following:

Type of Credit:
RS IRREVOCABLE/TRANSFERABLE

Documentary Credit Number: DAE74568

Date of Issue: 21 July 2003

VE

Expiry Date: 30 September 2003

Place of Expiry: London

Amount: Pounds Sterling 123,675

T

Available With: Advising Bank

By payment
EX

Shipment:

400 Fuel tanks model 1320 AA cont, 10 gall.

N

120 clutches 4 gangs model A 154

800 cylinders 150 cc model C45-15

600 rear wheels complete 28" magnesium model MW 123-28

120 fuel-injection sets complete model A 156-F

FCA Singapore

Against presentation of the following documents:

• Signed Commercial Invoice in five-fold

• Combined transport documents (full set) evidencing taking in charge of the merchandise as a full
contained load for shipment by ocean vessel to Rotterdam issued to the order and blank endorsed dated
not later than 20 September 2003

120 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

• Packing list in five-fold

• Declaration issued by the company undersigning the CTD that the goods will be sent by vessel plying in
regular line-service

Special Conditions:

• Freight may be paid in excess of the credit amount against freight note in which case CTD to be stamped
freight prepaid

Documents are to be presented within 10 days after the date of issuance of the shipping documents.

The advising bank may add its confirmation to the credit.

Shipment will be from Singapore to Port of Rotterdam.

Transshipment is permitted.

N
Partial shipments are not permitted.

Information Flow

IO
RS
VE
T
EX
N

SWIFT Message MT 700

Explanation Format

Sender NMBANL2A

Message Type 700

Receiver RBOSGB2L

Message Text

Sequence of Total :27:1/1

Form of D/C :40A:IRREVOCABLE TRANSFERABLE

19 September 2008 121

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

D/C Number :20:DAE74568

Date of Issue :31C:030721

Applicable Rules :40E:UCP LATEST VERSION

Date and Place of Expiry :31D:030930LONDON

Applicant :50:MOTOIMPORT
PO BOX 9
AMSTERDAM

Beneficiary :59:LONDON MOTOSPARES LTD

12 CYCLE SQUARE
LONDON

N
Curr/Amount :32B:GBP123675,

Additional Amounts Covered :39C:FREIGHT MAY BE PAID IN EXCESS OF

IO
CREDIT AMOUNT AGAINST FREIGHTNOTE IN WHICH
CASE CTD TO BE STAMPED FREIGHT PREPAID

Available With ... :41A:RBOSGB2L

By ... RS BY PAYMENT

Partial Ship. :43P:NOT ALLOWED

Transshipment :43T:ALLOWED
VE

Taking in charge :44A:SINGAPORE

Transport ... :44B:ROTTERDAM

Description of Goods :45A:+400 FUEL TANKS MODEL 1320 AA CONT. 10

GALL.
T

+120 CLUTCHES 4 GANGS MODEL A 154

+800 CYLINDERS 150CC MODEL C45-15
EX

+600 REAR WHEELS COMPLETE 28 IN MAGNESIUM

MODEL MW 123-28
+120 FUEL-INJECTION SETS COMPLETE MODEL A
156-F
+FCA SINGAPORE
N

Documents Required :46A:+SIGNED COMMERCIAL INVOICE IN FIVE-

FOLD
+COMBINED TRANSPORT DOCUMENTS (FULL SET)
EVIDENCING TAKING IN CHARGE OF THE
MERCHANDISE AS A FULL CONTAINER LOAD FOR
SHIPMENT BY OCEAN VESSEL TO ROTTERDAM
ISSUED TO THE ORDER AND BLANK ENDORSED
DATED NOT LATER THAN 030920
+PACKING LIST IN FIVE-FOLD
+DECLARATION ISSUED BY THE COMPANY
UNDERSIGNING THE CTD THAT THE GOODS WILL BE
SENT BY VESSEL PLYING IN REGULAR LINE-
SERVICE

Period for Presentation :48:DOCUMENTS MUST BE PRESENTED WITHIN 10

DAYS AFTER DATE OF ISSUE OF CTD

122 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Explanation Format

Confirm Instructions :49:MAY ADD

End of Message Text/Trailer

Example 2: Transfer of a Documentary Credit

Narrative

On the instructions of London Motospares Ltd., Royal Bank of Scotland transfers the documentary credit
(reference IMP124678) to Hong Kong and Shanghai Banking Corporation, Singapore, in favour of Cyclists
Ltd., 498 Wheeler St., Singapore.

The amount of the transferred credit is Pounds Sterling 100,000.

N
Information Flow

IO
RS
VE
T
EX
N

SWIFT Message MT 720

Explanation Format

Sender RBOSGB2

Message Type 720

Receiver HSBCSGSG

Message Text

Sequence of Total :27:1/1

Form of D/C :40B:IRREVOCABLE ADDING OUR CONFIRMATION

Transferring Bk Ref :20:IMP124678

19 September 2008 123

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

D/C Number :21:DAE74568

Date of Issue :31C:030721

Applicable Rules :40E:UCP LATEST VERSION

Date and Place of Expiry :31D:030930LONDON

Applicant :50:LONDON MOTOSPARES LTD

12 CYCLE SQUARE
LONDON

Beneficiary :59:CYCLIST LTD

498 WHEELER ST
SINGAPORE

N
Currency/Amount :32B:GBP100000,

Additional Amounts Covered :39C: FREIGHT MAY BE PAID IN EXCESS OF

IO
CREDIT AMOUNT AGAINST FREIGHTNOTE IN WHICH
CASE CTD TO BE STAMPED FREIGHT PREPAID

Available With ... By ... :41A:RBOSGB2L BY PAYMENT

Partial Ship.

Transshipment
RS :43P:NOT ALLOWED

:43T:ALLOWED

Taking in charge :44A:SINGAPORE

VE

Transport ... :44B:ROTTERDAM

Description of the Goods :45A:+400 FUEL TANKS MODEL 1320 AA CONT. 10

GALL.
+120 CLUTCHES 4 GANGS MODEL A 154
T

+800 CYLINDERS 150CCMODEL C45-15

+600 REAR WHEELS COMPLETE 28 IN MAGNESIUM
EX

MODEL MW 123-28
+120 FUEL-INJECTION SETS COMPLETE MODEL A
156-F
+FCA SINGAPORE

Documents Required
N

:46A:+SIGNED COMMERCIAL INVOICE IN FIVE-

FOLD
+COMBINED TRANSPORT DOCUMENTS (FULL SET)
EVIDENCING TAKING IN CHARGE OF THE
MERCHANDISE AS A FULL CONTAINER LOAD FOR
SHIPMENT BY OCEAN VESSEL TO ROTTERDAM
ISSUED TO THE ORDER AND BLANK ENDORSED
DATED NOT LATER THAN 030920
+PACKING LIST IN FIVE-FOLD
+DECLARATION ISSUED BY THE COMPANY
UNDERSIGNING THE CTD THAT THE GOODS WILL BE
SENT BY VESSEL PLYING IN REGULAR LINE-
SERVICE

Period for Presentation :48:DOCUMENTS MUST BE PRESENTED WITHIN 10

DAYS AFTER DATE OF ISSUE OF CTD

124 Message Reference Guide

 MT 720 Transfer of a Documentary Credit

Explanation Format

Confirm Instructions :49:WITHOUT

End of Message Text/Trailer

N
IO
RS
VE
T
EX
N

19 September 2008 125

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 721 Transfer of a Documentary Credit

MT 721 Scope
When a beneficiary has requested the transfer of a documentary credit - originally issued by a bank or a non-
bank - to a second beneficiary, this message is sent by the bank authorised to advise the transfer of the
documentary credit, to the bank advising the second beneficiary.

It is used to advise the Receiver about the terms and conditions of the transferred documentary credit, or part
thereof.

This message is sent in addition to an MT 720 Transfer of a Documentary Credit, when the information in the
documentary credit exceeds the maximum input message length of the MT 720.

N
MT 721 Format Specifications

IO
MT 721 Transfer of a Documentary Credit
Status Tag Field Name Content/Options No.

M 27 Sequence of Total 1!n/1!n 1

M 20
RS
Transferring Bank's Reference 16x 2

M 21 Documentary Credit Number 16x 3

O 45B Description of Goods and/or Services 100*65x 4

VE

O 46B Documents Required 100*65x 5

O 47B Additional Conditions 100*65x 6

M = Mandatory, O = Optional
T

MT 721 Network Validated Rules

EX

There are no network validated rules for this message type.

N

MT 721 Usage Rules

• Any rules the credit is subject to must be indicated in field 40E of the MT 720 this message relates to.

• When the documentary credit message exceeds the maximum input message length, additional
documentary credit information should be transmitted via one or more MT 721s. Up to three MT 721s may
be sent in addition to the MT 720.

• Unless otherwise specified, a documentary credit advised to the beneficiary or another advising bank
based on a SWIFT message constitutes an operative credit instrument.

• For freely negotiable documentary credits, the Receiver must add sentences to the effect that:

◦ The advice to the beneficiary must be presented at each negotiation.

◦ The negotiating bank must note each negotiation on that advice.

• To avoid misunderstandings, where possible, banks are to use Bank Identifier Codes rather than
expressions such as ourselves, yourselves, us, or you.

126 Message Reference Guide

 MT 721 Transfer of a Documentary Credit

• The transferring bank must transfer the documentary credit, including all its details, in a way that is clear
and unambiguous to the beneficiary.

MT 721 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

PRESENCE

Mandatory

N
DEFINITION

IO
This field specifies the number of this message in the series of messages sent for a documentary credit, and
the total number of messages in the series.

2. Field 20: Transferring Bank's Reference RS

FORMAT

16x
VE

PRESENCE

Mandatory
T

DEFINITION

This field contains the reference number which the transferring bank (Sender) has assigned to the
EX

documentary credit.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
N

T26).

3. Field 21: Documentary Credit Number

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the issuing bank.

19 September 2008 127

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

4. Field 45B: Description of Goods and/or Services

FORMAT

Option B 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

N
This field contains a description of the goods and/or services.

IO
USAGE RULES

Terms such as FOB, CIF, etc. should be specified in this field.

RS
To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.
However, field 45a may appear in only one message, that is, either in the MT 720 or in one MT 721.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the
VE
description of goods and/or services.

Some examples of valid combinations:

• MT 720 contains field 45A; the subsequent MT 721 contains fields 46B and 47B.

• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.
T

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.
EX

• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

Some examples of invalid combinations:

N

• MT 720 contains field 45A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
47B (INVALID because there are two fields 45a).

• MT 720 contains field 45A; the first MT 721 contains field 45B; the second MT 721 contains fields 45B,
46B and 47B (INVALID because there are three fields 45a).

The specification of each new item should begin on a new line, preceded by the sign '+'.

5. Field 46B: Documents Required

FORMAT

Option B 100*65x (Narrative)

128 Message Reference Guide

 MT 721 Transfer of a Documentary Credit

PRESENCE

Optional

DEFINITION

This field contains a description of any documents required.

USAGE RULES

When the ultimate date of issue of a transport document is specified, it is to be specified with the relative
document in this field.

For credits subject to eUCP, the format in which electronic records are to be presented must be specified in
this field.

To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.

N
However, field 46a may appear in only one message, that is, either in the MT 720 or in one MT 721.

This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the

IO
documents required.

Some examples of valid combinations:

• MT 720 contains field 45A; the subsequent MT 721 contains fields 46B and 47B.
RS
• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.
VE
• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

Some examples of invalid combinations:

• MT 720 contains field 46A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
T

47B (INVALID because there are two fields 46a).

• MT 720 contains field 46A; the first MT 721 contains field 46B; the second MT 721 contains fields 45B,
EX

46B and 47B (INVALID because there are three fields 46a).

The specification of each new item should begin on a new line, preceded by the sign '+'.
N

6. Field 47B: Additional Conditions

FORMAT

Option B 100*65x (Narrative)

PRESENCE

Optional

DEFINITION

This field contains a description of further conditions of the documentary credit.

19 September 2008 129

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

USAGE RULES

In case the documentary credit is subject to any rules for which no code words are provided in field 40E of the
related MT 720, further details should be specified in this field.

To cater for lengthy documentary credits, up to three MT 721s may be sent in addition to an MT 720.
However, field 47a may appear in only one message, that is, either in the MT 720 or in one MT 721. This
means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional
conditions.

Some examples of valid combinations:

• MT 720 contains field 47A; the subsequent MT 721 contains fields 45B and 46B.

• MT 720 contains field 46A; the subsequent MT 721 contains fields 45B and 47B.

• MT 720 contains field 46A; the first MT 721 contains field 45B; the second MT 721 contains field 47B.

N
• MT 720 does not contain fields 45A, 46A or 47A; the first MT 721 contains field 45B; the second MT 721
contains field 46B; the third MT 721 contains field 47B.

Some examples of invalid combinations:

IO
• MT 720 contains field 47A; the first MT 721 contains fields 45B and 46B; the second MT 721 contains field
47B (INVALID because there are two fields 47a).
RS
• MT 720 contains field 47A; the first MT 721 contains field 47B; the second MT 721 contains fields 45B,
46B and 47B (INVALID because there are three fields 47a).

Where applicable, for credits subject to eUCP:

VE

• If presentation of both electronic records and paper documents is allowed, the place for presentation of the
electronic records (that is, the electronic address to which presentation must be made) as well as the place
for presentation of the paper documents must be specified in this field.

• If presentation of only electronic records is allowed, the place for presentation of the electronic records
(that is, the electronic address to which presentation must be made) must be specified in this field.
T

• If not already part of the original documentary credit, the advising bank, that is, the receiver of the
message, must provide the beneficiary or another advising bank with the electronic address of the issuing
EX

bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the
electronic address where they wish the electronic records to be presented.

• In case the electronic address contains the "@" sign, the latter should be replaced by "(AT)".

In case the electronic address contains the "_", the latter should be replaced by "(UNDERSCORE)".
N

Examples:

◦ EUCP@DRESDNER-BANK.COM should be shown as

EUCP(AT)DRESDNER-BANK.COM

◦ EUCP_RECS@DRESDNER-BANK.COM should be shown as

EUCP(UNDERSCORE)RECS(AT)DRESDNER-BANK.COM

The specification of each new item should begin on a new line, preceded by the sign '+'.

EXAMPLE

:47B:+NOT SUBJECT TO ICC UCP500

:47B:+SUBJECT TO ICC EUCP VERSION 1.0

130 Message Reference Guide

 MT 721 Transfer of a Documentary Credit

MT 721 Examples
There are no examples for this message type.

N
IO
RS
VE
T
EX
N

19 September 2008 131

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 730 Acknowledgement

MT 730 Scope
This message is used to acknowledge receipt of any documentary credit message. When applicable, it may
also explicitly indicate that the message has been forwarded according to instructions.

This message type may also be used:

• to account for bank charges

• to advise of acceptance or rejection of an amendment of a credit.

MT 730 Format Specifications

N
MT 730 Acknowledgement

IO
Status Tag Field Name Content/Options No.

M 20 Sender's Reference 16x 1

M 21 Receiver's Reference
RS 16x 2

O 25 Account Identification 35x 3

M 30 Date of Message Being Acknowledged 6!n 4

VE
O 32a Amount of Charges B or D 5

O 57a Account With Bank A or D 6

O 71B Charges 6*35x 7

O 72 Sender to Receiver Information 6*35x 8

T

M = Mandatory, O = Optional
EX

MT 730 Network Validated Rules

C1 Either field 25 or 57a, but not both, may be present (Error code(s): C77).
N

C2 If field 32D is present, field 57a must not be present (Error code(s): C78).

MT 730 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

132 Message Reference Guide

 MT 730 Acknowledgement

PRESENCE

Mandatory

DEFINITION

This field contains the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Receiver's Reference

FORMAT

N
16x

IO
PRESENCE

Mandatory

DEFINITION
RS
This field contains the content of field 20 Transaction Reference Number of the message which this MT 730 is
acknowledging.
VE

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
T

USAGE RULES
EX

If the related message was not sent via SWIFT, this field will contain a reference to that message which is
meaningful to the Receiver.

3. Field 25: Account Identification

N

FORMAT

35x (Account)

PRESENCE

Conditional (see rule C1)

DEFINITION

This field identifies the number of the account which has been used for the settlement of charges, on the
books of the Sender.

19 September 2008 133

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

4. Field 30: Date of Message Being Acknowledged

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

When this message is acknowledging an MT 700 Issue of a Documentary Credit, this field specifies the date
of issue.

In all other cases, this field specifies the date on which the message being acknowledged was sent.

N
NETWORK VALIDATED RULES

IO
Date must be a valid date expressed as YYMMDD (Error code(s): T50).

5. Field 32a: Amount of Charges RS

FORMAT

Option B 3!a15d (Currency)(Amount)

VE
Option D 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Optional
T

DEFINITION
EX

This field contains the currency code and total amount of charges claimed by the Sender of the message.

NETWORK VALIDATED RULES

In option D, Date must be a valid date expressed as YYMMDD (Error code(s): T50).
N

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

When the charges have been debited, option D must be used specifying the value date of the debit, in addition
to the currency code and amount.

When reimbursement for charges is requested, option B must be used.

134 Message Reference Guide

 MT 730 Acknowledgement

6. Field 57a: Account With Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Conditional (see rules C1 and C2)

DEFINITION

N
This field identifies the bank to which the amount of charges is to be remitted in favour of the Sender.

NETWORK VALIDATED RULES

IO
Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
RS
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

7. Field 71B: Charges

VE

FORMAT

Option B 6*35x (Narrative)

T

In addition to narrative text, the following line formats may be used:

EX

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]
N

PRESENCE

Optional

DEFINITION

This field specifies the charges to be claimed.

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

19 September 2008 135

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

N
Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

IO
8. Field 72: Sender to Receiver Information
FORMAT

6*35x
RS
(Narrative)

In addition to narrative text, structured text with the following line formats may be used:
VE

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]
T

PRESENCE
EX

Optional

DEFINITION
N

This field specifies additional information for the Receiver.

CODES

One or more of the following codes may be used:

BENACC The beneficiary has accepted the amendment of the credit.

BENREJ The beneficiary has rejected the amendment of the credit.

USAGE RULES

When this message is used to advise of acceptance or rejection of an amendment of a credit, the confirmation
of the beneficiary must be indicated in this field.

Any code must be between slashes and must appear at the beginning of a line.

136 Message Reference Guide

 MT 730 Acknowledgement

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 730 Examples
Narrative

Royal Bank of Scotland, London, receives documentary credit number DAE74568 from Nederlandsche
Middenstandsbank, Amsterdam, issued on 21 July 2003.

Royal Bank of Scotland acknowledges receipt of the credit with its reference IMP124678, indicating that it has
added its confirmation. Its charges are to be settled at a later date.

(To review the MT 700 which is being acknowledged see the Example section of the MT 700.)

Information Flow

N
IO
RS
VE

SWIFT Message
T

Explanation Format

Sender
EX

RBOSGB2L

Message Type 730

Receiver NMBANL2A
N

Message Text

Sender's Reference :20:IMP124678

Receiver's Reference :21:DAE74568

Date of Message Acknowledged :30:030721

Sender to Receiver Information :72:AT BENEFICIARY'S REQUEST WE ADDED OUR

CONFIRMATION WE SHALL SETTLE OUR CHARGES
LATER

End of Message Text/Trailer

19 September 2008 137

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Example 1: Issue of a Documentary Credit

Narrative

On 18 May 2002, Oesterreichische Laenderbank, Vienna, issues, and transmits via SWIFT, its documentary
credit number 12345. The applicant is Floral Encounters, Kruegerstrasse 12, Vienna; the beneficiary, Glory
Bulbs, Box 309, Lisse, The Netherlands. The amount of the credit is Euro 5,000. Amsterdam-Rotterdam Bank,
Amsterdam, is the advising and confirming bank for the credit.

The credit covers the purchase of 10,000 tulip bulbs, packed in cartons of 500 bulbs each, with each carton
being of one colour as per the purchase order. Partial shipments are not allowed. The following documents
are required:

• signed commercial invoice, in triplicate

• the forwarding agent's certificate, showing the goods addressed to the applicant.

N
Information Flow

IO
RS
VE
T
EX
N

SWIFT Message

Explanation Format

Sender OELBATWW

Message Type 700

Receiver AMRONL2A

Message Text

Sequence of Total :27:1/1

Form of Documentary Credit :40A:IRREVOCABLE

Documentary Credit Number :20:12345

138 Message Reference Guide

 MT 730 Acknowledgement

Explanation Format

Date of Issue :31C:020518

Date and Place of Expiry :31D:020817AMSTERDAM

Applicant :50:FLORAL ENCOUNTERS

KRUEGERSTRASSE 12
VIENNA

Beneficiary :59:GLORY BULBS

PO BOX 309
LISSE

Currency Code/Amount :32B:EUR5000,

Available With ... By ... :41A:AMRONL2A

BY PAYMENT

N
Partial Shipments :43P:NOT ALLOWED

IO
Taking in Charge ... :44A:AMSTERDAM

For Transportation to ... :44B:VIENNA

Description of Goods RS :45A:10,000 TULIP BULBS IN CARTONS OF 500

BULBS EACH, EACH CARTON BEING OF ONE COLOUR

Documents Required :46A:+SIGNED COMMERCIAL INVOICE IN

TRIPLICATE
VE
+FORWARDING AGENTS CERTIFICATE OF RECEIPT
SHOWING GOODS ADDRESSED TO THE APPLICANT

Confirmation Instructions :49:CONFIRM

End of Message Text/Trailer

T

Example 2: Acknowledgement
EX

Narrative

When it receives the documentary credit, Amsterdam-Rotterdam Bank sends the credit to the beneficiary,
including its confirmation. Amsterdam-Rotterdam Bank acknowledges receipt of the credit, with its reference
N

745322IMP, indicating that it has added its confirmation as requested. Charges are claimed in the amount of
EUR 300 for its confirmation and EUR 20 for cable costs.

Amsterdam-Rotterdam Bank requests Oesterreichische Laenderbank to pay total charges of EUR 320 to its
account number 75016375, at Creditanstalt Bankverein, Vienna.

19 September 2008 139

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Information Flow

N
IO
SWIFT Message

Explanation Format

Sender
RS AMRONL2A

Message Type 730

Receiver
VE
OELBATWW

Message Text

Sender's Reference :20:745322IMP

Receiver's Reference :21:12345

T

Date of Message Acknowledged :30:020518

EX

Amount of Charges :32B:EUR320,

Account With Bank :57A:CABVATWW

Charges :71B:/COMM/EUR300,
N

/CABLE/EUR20,

Sender to Receiver Information :72:WE ADDED OUR CONFIRMATION PLEASE PAY

FOR ACCOUNT NUMBER 75016375 AT CABVATWW

End of Message Text/Trailer

140 Message Reference Guide

 MT 732 Advice of Discharge

MT 732 Advice of Discharge

MT 732 Scope
This message is sent by the issuing bank to the paying/negotiating or accepting bank.

It may also be sent by the paying/accepting/negotiating bank to the bank from which it has received
documents.

It is used to advise the Receiver that the documents received with discrepancies have been taken up.

MT 732 Format Specifications

N
MT 732 Advice of Discharge
Status Tag Field Name Content/Options No.

IO
M 20 Sender's TRN 16x 1

M 21 Presenting Bank's Reference 16x 2

M 30 Date of Advice of Payment/Acceptance/

RS 6!n 3
Negotiation

M 32B Amount of Utilisation 3!a15d 4

O 72 Sender to Receiver Information 6*35x 5

VE

M = Mandatory, O = Optional

MT 732 Network Validated Rules

T

There are no network validated rules for this message type.

EX

MT 732 Field Specifications

1. Field 20: Sender's TRN
N

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

If the message is sent by the issuing bank, this field specifies the documentary credit number assigned by the
issuing bank.

If the message is sent by a bank other than the issuing bank, this field specifies either the documentary credit
number assigned by the issuing bank or another reference assigned by the Sender.

19 September 2008 141

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Presenting Bank's Reference

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

N
This field specifies the reference which has been assigned by the presenting bank, that is, the Receiver of this
message.

IO
NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
RS
T26).

3. Field 30: Date of Advice of Payment/Acceptance/Negotiation

VE

FORMAT

6!n (Date)
T

PRESENCE

Mandatory
EX

DEFINITION

This field specifies the date of the covering letter under which the documents were sent.
N

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

4. Field 32B: Amount of Utilisation

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

142 Message Reference Guide

 MT 732 Advice of Discharge

DEFINITION

This field contains the currency code and amount of the drawing, excluding any charges or deductions.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

5. Field 72: Sender to Receiver Information

FORMAT

N
6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

IO
Line 1 /8c/[additional information]
Lines 2-6 [//continuation of additional
information]
RS
or
[/8c/[additional information]]

PRESENCE
VE

Optional

DEFINITION
T

This field specifies additional information for the Receiver.

USAGE RULES
EX

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.
N

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 732 Examples
Example 1: Advice of Payment/Acceptance/Negotiation
Narrative

Oesterreichische Laenderbank issues its documentary credit number 12345 on behalf of ABC Company,
Vienna.

The advising bank for the credit is Amsterdam-Rotterdam Bank, Amsterdam; the beneficiary, Amdam
Company, Amsterdam, banks with Bank Mees en Hope, Amsterdam.

19 September 2008 143

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

(To review the MT 700, 705 and 710 related to this documentary credit, see the respective Example sections.)

On July 26, 2003, Amsterdam-Rotterdam Bank, Amsterdam, advises Oesterreichische Laenderbank that
documents have been presented by Bank Mees en Hope, and that they have been paid subject to one minor
discrepancy (Oesterreichische Laenderbank shown as consignee).

Amsterdam-Rotterdam Bank has debited the account of Oesterreichische Laenderbank (number 311248123)
for Euro 100,383.75 (being EUR 100,000 plus charges totalling EUR 383.75) and requests its discharge.

The documents are sent to Vienna by mail.

Information Flow

N
IO
RS
SWIFT Message
VE

Explanation Format

Sender AMRONL2A

Message Type 754

T

Receiver OELBATWW

Message Text
EX

Sender's Reference :20:606487

Documentary Credit Number :21:12345

N

Principal Amount Paid :32B:EUR100000,

Charges Added :73:CONFIRMATION FEE EUR250,

PAYMENT COMM EUR125,
POSTAGE EUR8,75

Total Amount Claimed :34A:030726NLG100383,75

Reimbursement Bank :53B:/311248123

Sender to Receiver Info :72:WE NOTED FCR SHOWING

YOURSELVES AS CONSIGNEE
PLEASE DISCHARGE US SOONEST

End of Message Text/Trailer

144 Message Reference Guide

 MT 732 Advice of Discharge

Example 2: Advice of Discharge

Narrative

On receipt of the above message and the mailed documents, Oesterreichische Laenderbank advises
Amsterdam-Rotterdam Bank that the documents have been taken up and that Amsterdam-Rotterdam Bank is
now discharged.

Information Flow

N
IO
SWIFT Message
RS
Explanation Format
VE
Sender OELBATWW

Message Type 732

Receiver AMRONL2A
T

Message Text

Documentary Credit Number :20:12345

EX

Presenting Bank's Reference :21:606487

Date of Advice of Payment :30:030726

Amount of Utilisation :32B:EUR100000,

N

End of Message Text/Trailer

19 September 2008 145

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 734 Advice of Refusal

MT 734 Scope
This message is sent by the issuing bank to the bank from which it has received documents related to a
documentary credit. It may also be sent by the bank nominated to pay/accept/negotiate/incur a deferred
payment undertaking to the bank from which it has received documents.

It is used to advise the Receiver that the Sender considers the documents, as they appear on their face, not to
be in accordance with the terms and conditions of the credit and that, consequently, it refuses them for the
discrepancies stated. The Sender also provides the Receiver with details regarding the disposal of the
documents.

This message type may also be used for claiming a refund.

N
MT 734 Format Specifications

IO
MT 734 Advice of Refusal
Status Tag Field Name Content/Options No.

M 20 Sender's TRN RS 16x 1

M 21 Presenting Bank's Reference 16x 2

M 32A Date and Amount of Utilisation 6!n3!a15d 3

VE

O 73 Charges Claimed 6*35x 4

O 33a Total Amount Claimed A or B 5

O 57a Account With Bank A, B, or D 6

T

O 72 Sender to Receiver Information 6*35x 7

M 77J Discrepancies 70*50x 8

EX

M 77B Disposal of Documents 3*35x 9

M = Mandatory, O = Optional
N

MT 734 Network Validated Rules

C1 If field 73 is present, field 33a must also be present (Error code(s): C17).

C2 The currency code in the amount fields 32A and 33a must be the same (Error code(s): C02).

146 Message Reference Guide

 MT 734 Advice of Refusal

MT 734 Field Specifications

1. Field 20: Sender's TRN
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

If the message is sent by the issuing bank, this field specifies the documentary credit number assigned by the

N
issuing bank.

If the message is sent by a bank other than the issuing bank, this field specifies either the documentary credit

IO
number assigned by the issuing bank or another reference assigned by the Sender.

NETWORK VALIDATED RULES

RS
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Presenting Bank's Reference

VE

FORMAT

16x
T

PRESENCE
EX

Mandatory

DEFINITION

This field specifies the reference which has been assigned by the presenting bank from which the documents
N

have been received.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

3. Field 32A: Date and Amount of Utilisation

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Mandatory

19 September 2008 147

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field specifies the date of the covering letter under which the documents were sent, followed by the
currency code and amount of the drawing.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32A, and 33a must be the same (Error code(s): C02).

N
4. Field 73: Charges Claimed

IO
FORMAT

6*35x (Narrative)

Line 1
RS
In addition to narrative text, the following line formats may be used:

/8a/[3!a13d] [additional (Code)(Currency)(Amount)(Narrative)

information]
VE
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional
T

DEFINITION
EX

This field specifies the charges claimed by the Sender, if any.

USAGE RULES
N

The structured line format may be used for bilaterally agreed codes.

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

5. Field 33a: Total Amount Claimed

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

Option B 3!a15d (Currency)(Amount)

148 Message Reference Guide

 MT 734 Advice of Refusal

PRESENCE

Conditional (see rule C1)

DEFINITION

This field contains the currency code and amount claimed, including charges, by the Sender of the message.

NETWORK VALIDATED RULES

In option A, Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

N
Currency in fields 32A, and 33a must be the same (Error code(s): C02).

IO
USAGE RULES

When the amount claimed has been debited, option A must be used, specifying the value date of the debit.
RS
When reimbursement of the amount claimed is requested, option B must be used.

6. Field 57a: Account With Bank

VE

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
T

[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
EX

4*35x (Name & Address)

PRESENCE

Optional
N

DEFINITION

This field specifies the financial institution at which the amount claimed is to be remitted in favour of the
Sender.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

19 September 2008 149

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

USAGE RULES

Where the message also represents a claim for refund, the absence of this field implies that the account
relationship between the Sender and the Receiver is to be used.

7. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]

N
or
[/8c/[additional information]]

IO
PRESENCE

Optional

DEFINITION
RS
This field specifies additional information for the Receiver.
VE

USAGE RULES

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.
T

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.
EX

8. Field 77J: Discrepancies

FORMAT
N

Option J 70*50x (Narrative)

PRESENCE

Mandatory

DEFINITION

This field specifies the reason(s) for refusal of the document(s), for example, discrepancies. It may contain any
type of instruction or information.

150 Message Reference Guide

 MT 734 Advice of Refusal

9. Field 77B: Disposal of Documents

FORMAT

Option B 3*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8c/[add'l information] (Code)(Narrative)

Lines 2-3 [//add'l information] (Narrative)

PRESENCE

Mandatory

N
DEFINITION

This field contains information regarding the disposal of the documents.

IO
CODES

One of the following codes may be used:

HOLD
RS
Documents held at your disposal.

NOTIFY Documents held until the issuing bank receives a waiver from the applicant and
agrees to accept it, or receives further instructions from the presenter prior to
VE

agreeing to accept a waiver.

PREVINST Acting in accordance with instructions previously received from the presenter.

RETURN Documents being returned to you.

T

USAGE RULES
EX

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.
N

MT 734 Examples
Narrative

Royal Bank of Scotland, London, receives documentary credit number DAE74568 from Nederlandsche
Middenstandsbank, Amsterdam, issued on July 21, 2003.

Royal Bank of Scotland acknowledges the receipt of the credit with its reference IMP124678, indicating that it
has added its confirmation to the credit. Its charges are to be settled at a later date.

(To review the MTs 700, 730, 720 relating to this documentary credit, see the respective Example sections)

Royal Bank of Scotland negotiates the credit, determines the documents are in order and debits the account it
services for Nederlandsche Middenstandsbank.

19 September 2008 151

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Nederlandsche Middenstandsbank, Amsterdam disagrees and claims a refund. It advises Royal Bank of
Scotland (September 21, 2003, reference IMP124678) that the documents presented have been refused
owing to discrepancies:

1. Partial shipment was effected.

2. Declaration that vessel is running regular line service not presented.

The documents are being held by Nederlandsche Middenstandsbank pending further instructions. Charges
and drawings totalling GBP 123,798 (Drawings of 123,675 + Cable 10 + Royal Bank of Scotland charges 95 +
Interest 18) are to be credited to Nederlandsche Middenstandsbank's account value September 27, 2003.

Information Flow

N
IO
RS
SWIFT Message
VE

Explanation Format

Sender NMBANL2A

Message Type 734

T

Receiver RBOSGB2L
EX

Message Text

Sender's TRN :20:DAE74568

Presenting Bank's Reference :21:IMP124678

N

Date/Amt of Utilisation (1) :32A:030921GBP123675,

Charges Claimed :73:YOUR CHARGES GBP 95,

CABLE GBP10,
INTEREST GBP18,

Total Amount Claimed :33A:030927GBP123798,

Discrepancies :77J:PARTSHIPMENT EFFECTED

DECLARATION THAT VESSEL IS RUNNING
IN REGULAR LINE SERVICE NOT PRESENTED

Disposal of Documents :77B:/HOLD/

End of Message Text/Trailer

(1) The date of the covering letter of the received documents and the amount of the drawing, excluding charges
or deductions.

152 Message Reference Guide

 MT 740 Authorisation to Reimburse

MT 740 Authorisation to Reimburse

MT 740 Scope
This message is sent by the issuing bank to the reimbursing bank.

It is used to request the Receiver to honour claims for reimbursement of payment(s) or negotiation(s) under a
documentary credit.

The MT 740 authorises the reimbursing bank to debit the account of the Sender, or one of the Sender's
branches if so indicated, for reimbursements effected in accordance with the instructions in the MT 740.

MT 740 Format Specifications

N
MT 740 Authorisation to Reimburse
Status Tag Field Name Content/Options No.

IO
M 20 Documentary Credit Number 16x 1

O 25 Account Identification 35x 2

O
40F

31D
Applicable Rules
RS
Date and Place of Expiry
30x

6!n29x
3

O 58a Negotiating Bank A or D 5

VE

O 59 Beneficiary [/34x] 6
4*35x

M 32B Credit Amount 3!a15d 7

O 39A Percentage Credit Amount Tolerance 2n/2n

T

O 39B Maximum Credit Amount 13x 9

EX

O 39C Additional Amounts Covered 4*35x 10

M 41a Available With ... By ... A or D 11

O 42C Drafts at ... 3*35x 12

N

O 42a Drawee A or D 13

O 42M Mixed Payment Details 4*35x 14

O 42P Deferred Payment Details 4*35x 15

O 71A Reimbursing Bank's Charges 3!a 16

O 71B Other Charges 6*35x 17

O 72 Sender to Receiver Information 6*35x 18

M = Mandatory, O = Optional

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MT 740 Network Validated Rules

C1 Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C2 When used, fields 42C and 42a must both be present (Error code(s): C90).

C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other
combination of these fields is allowed (Error code(s): C90).

C4 Either field 58a or 59, but not both, may be present (Error code(s): D84).

MT 740 Field Specifications

1. Field 20: Documentary Credit Number

N
FORMAT

IO
16x

PRESENCE RS
Mandatory

DEFINITION
VE

This field specifies the documentary credit number which has been assigned by the Sender.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T

T26).
EX

2. Field 25: Account Identification

FORMAT

35x (Account)
N

PRESENCE

Optional

DEFINITION

This field identifies the account which is to be debited for reimbursements.

USAGE RULES

The account specified may also be that of a branch of the Sender.

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 MT 740 Authorisation to Reimburse

3. Field 40F: Applicable Rules

FORMAT

Option F 30x (Applicable Rules)

PRESENCE

Mandatory

DEFINITION

This field specifies the rules the reimbursement is subject to.

CODES

N
One of the following codes must be used (Error code(s): T59).

NOTURR The reimbursement under the credit is not subject to the ICC

IO
Uniform Rules for Bank-to-Bank Reimbursement.

URR LATEST VERSION The reimbursement under the credit is subject to the version of
RS the ICC Uniform Rules for Bank-to-Bank Reimbursement,
which is in effect on the date of issue.

4. Field 31D: Date and Place of Expiry

VE

FORMAT

Option D 6!n29x (Date)(Place)

PRESENCE
T

Optional
EX

DEFINITION

This field specifies the latest date for presentation under the documentary credit and the place where
documents may be presented.
N

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

This field should not be used to specify the latest date for presentation of a reimbursement claim or an expiry
date for the reimbursement authorisation.

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5. Field 58a: Negotiating Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Conditional (see rule C4)

DEFINITION

N
This field identifies the drawer of the drafts to be drawn on the reimbursing bank, when the drawer is the
negotiating bank.

IO
NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
RS
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
VE
USAGE RULES

Option A is the preferred option. Option D is only allowed when it is necessary to indicate a name and address
or to indicate negotiating bank under freely negotiable credits.
T

6. Field 59: Beneficiary

EX

FORMAT

[/34x] (Account)
4*35x (Name & Address)
N

PRESENCE

Conditional (see rule C4)

DEFINITION

This field identifies the drawer of the drafts to be drawn on the reimbursing bank, when the drawer is the
beneficiary.

USAGE RULES

Account must not be present.

The name of the drawer is mandatory but can also be indicated as beneficiary in case of a transferable credit.
The drawer's address is optional.

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 MT 740 Authorisation to Reimburse

7. Field 32B: Credit Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the currency code and amount of the documentary credit.

NETWORK VALIDATED RULES

N
Currency must be a valid ISO4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is

IO
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES RS
Special information relative to the amount of the credit must be specified in field 39A Percentage Credit
Amount Tolerance, field 39B Maximum Credit Amount or field 39C Additional Amounts Covered.
VE

8. Field 39A: Percentage Credit Amount Tolerance

FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

T

PRESENCE
EX

Conditional (see rule C1)

DEFINITION
N

This field specifies the tolerance relative to the documentary credit amount as a percentage plus and/or minus
that amount.

USAGE RULES

Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

9. Field 39B: Maximum Credit Amount

FORMAT

Option B 13x (Code)

PRESENCE

Conditional (see rule C1)

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DEFINITION

This field further qualifies the documentary credit amount.

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

10. Field 39C: Additional Amounts Covered

FORMAT

Option C 4*35x (Narrative)

N
PRESENCE

IO
Optional

DEFINITION
RS
This field specifies any additional amounts covered such as insurance, freight, interest, etc.

11. Field 41a: Available With ... By ...

VE

FORMAT

Option A 4!a2!a2!c[3!c] (Identifier Code)

14x (Code)
Option D 4*35x (Name & Address)
T

14x (Code)
EX

PRESENCE

Mandatory

DEFINITION
N

This field identifies the bank(s) authorised to claim reimbursement. It is followed by how the credit is available
for example, by payment, by acceptance, etc.

CODES

One of the following codes must be used in subfield 2, that is, 14x (Error code(s): T68):

BY ACCEPTANCE

BY DEF PAYMENT

BY MIXED PYMT

BY NEGOTIATION

BY PAYMENT

158 Message Reference Guide

 MT 740 Authorisation to Reimburse

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

If the credit is to be freely negotiable by any bank, option D must be used with the phrase Any bank in ... (city
or country).

If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country is not
required.

N
When Code contains either BY DEF PAYMENT or BY MIXED PYMT, the specific details of the payment terms
must be specified in fields 42P and 42M.

IO
When Code contains BY PAYMENT, this should be understood to mean payment at sight.

12. Field 42C: Drafts at ...

FORMAT
RS
Option C 3*35x (Narrative)
VE

PRESENCE

Conditional (see rules C2 and C3)

DEFINITION
T

This field specifies the tenor of drafts to be drawn under the documentary credit.
EX

13. Field 42a: Drawee

FORMAT
N

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Conditional (see rules C2 and C3)

DEFINITION

This field identifies the drawee of the drafts to be drawn under the documentary credit.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

19 September 2008 159

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

Party Identifier must not be present.

14. Field 42M: Mixed Payment Details

FORMAT

Option M 4*35x (Narrative)

PRESENCE

N
Conditional (see rule C3)

IO
DEFINITION

This field specifies the payment dates, amounts and/or method for their determination in a documentary credit
which is available by mixed payment.RS
15. Field 42P: Deferred Payment Details
VE
FORMAT

Option P 4*35x (Narrative)

PRESENCE
T

Conditional (see rule C3)

EX

DEFINITION

This field specifies the payment date or method for its determination in a documentary credit which is available
by deferred payment only.
N

16. Field 71A: Reimbursing Bank's Charges

FORMAT

Option A 3!a (Code)

PRESENCE

Optional

DEFINITION

This field specifies by which party the reimbursing bank's charges are to be borne.

160 Message Reference Guide

 MT 740 Authorisation to Reimburse

CODES

One of the following codes may be used (Error code(s): T08):

CLM Charges are for the account of the bank claiming reimbursement.

OUR Charges are to be borne by the Sender.

USAGE RULES

The absence of this field implies that charges will be borne by the Sender of this message.

17. Field 71B: Other Charges

FORMAT

N
Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

IO
Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)
information]
Lines 2-6 RS
[//continuation of additional
information]

PRESENCE
VE

Optional

DEFINITION

This field may only be used to indicate whether acceptance and/or discount charges are applicable and, if so,
T

by which party these charges are to be borne.

EX

CODES

One or more of the following codes may be used, followed by the currency code and amount:

ACCECHGS Acceptance Charges.

N

DISCCHGS Discount Charges.

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

18. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

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In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Optional

DEFINITION

This field contains any specific instructions for the reimbursing bank. It may also be used to indicate if pre-
debit notification from the reimbursing bank to the issuing bank is required.

N
USAGE RULES

IO
Any latest date for a reimbursement claim or an expiry date for the reimbursement authorisation should be
indicated in this field and not in field 31D.

When this field is used to indicate if pre-debit notification from the reimbursing bank to the issuing bank is
required, the number and type, that is, banking or calendar, of days within which the issuing bank has to be
RS
notified should also be indicated.

The absence of specific instructions in this field concerning the claiming bank's charges implies that the
reimbursing bank is authorised to pay those charges.
VE

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
T

the field.
EX

MT 740 Examples
Narrative
N

Skandinaviska Enskilda Banken issues its documentary credit number DC.IMP 3410/3444, to Generale Bank,
Brussels, the advising bank, including the following details:

Expiry Date: 30 July 2003

Place of Expiry: Brussels

Amount: US Dollars 31,500

The credit is available with Generale Bank, Brussels, by acceptance, with all charges to be paid by the
claiming bank.

At maturity of the draft, reimbursement is to be claimed at Manufacturers Hanover Trust Company, New York.

(To review the MT 700/701 issuing this documentary credit see MT 700 and MT 701 Issue of a documentary
credit.)

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 MT 740 Authorisation to Reimburse

At the time the MT 700 is issued, Skandinaviska sends an MT 740 Authorisation to Reimburse to
Manufacturers Hanover Trust Company, New York, indicating that authorisation to reimburse is restricted to
the credit amount and the claiming bank's acceptance commission.

Information Flow

N
IO
SWIFT Message

Explanation RS Format

Sender ESSESESS

Message Type 740

VE
Receiver MAHAUS33

Message Text

Documentary Credit Number :20:DC.IMP 3410/3444

Applicable Rules
T

:40F:URR LATEST VERSION

Credit Amount :32B:USD31500,

EX

Available With ... By ... :41A:GEBABEBB BY ACCEPTANCE

Reimbursing Bk's Charges :71A:CLM

Sender to Receiver Information :72:RESTRICTED TO CLAIMING BANK'S

N

ACCEPTANCE COMMISSION

End of Message Text/Trailer

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 742 Reimbursement Claim

MT 742 Scope
This message is sent by the paying/negotiating bank to the bank authorised to reimburse the Sender for its
payments/negotiations.

It is used to claim reimbursement of payment(s) or negotiation(s) under a documentary credit, as relevant to

the reimbursing bank.

MT 742 Format Specifications

MT 742 Reimbursement Claim

N
Status Tag Field Name Content/Options No.

M 20 Claiming Bank's Reference 16x 1

IO
M 21 Documentary Credit Number 16x 2

O 31C Date of Issue 6!n 3

M
52a

32B
Issuing Bank
RS
Principal Amount Claimed
A or D

3!a15d
4

O 33B Additional Amount Claimed as Allowed for in 3!a15d 6

VE
Excess of Principal Amount

O 71B Charges 6*35x 7

M 34a Total Amount Claimed A or B 8

O 57a Account With Bank A, B, or D 9

T

O 58a Beneficiary Bank A or D 10

EX

O 72 Sender to Receiver Information 6*35x 11

M = Mandatory, O = Optional
N

MT 742 Network Validated Rules

There are no network validated rules for this message type.

MT 742 Field Specifications

1. Field 20: Claiming Bank's Reference
FORMAT

16x

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 MT 742 Reimbursement Claim

PRESENCE

Mandatory

DEFINITION

This field contains the reference which has been assigned to the transaction by the Sender.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Documentary Credit Number

FORMAT

N
16x

IO
PRESENCE

Mandatory

DEFINITION
RS
This field specifies the documentary credit number which has been assigned by the bank which issued the
authorisation to reimburse (issuing bank).
VE

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
T

3. Field 31C: Date of Issue

EX

FORMAT

Option C 6!n (Date)

N

PRESENCE

Optional

DEFINITION

This field specifies the date on which the issuing bank considers the documentary credit as being issued.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

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4. Field 52a: Issuing Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Mandatory

DEFINITION

N
This field identifies the bank which has given the authorisation to reimburse.

NETWORK VALIDATED RULES

IO
Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
RS
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

5. Field 32B: Principal Amount Claimed

VE

FORMAT

Option B 3!a15d (Currency)(Amount)

T

PRESENCE
EX

Mandatory

DEFINITION

This field contains the currency code and amount of principal claimed by the Sender of the message. It is the
N

amount which is to be deducted from the outstanding balance of the documentary credit.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

If the amount claimed is in a currency other than the currency of the credit, this field must indicate the currency
of the amount claimed. Details of the conversion and the amount deducted from the outstanding balance of
the documentary credit must be given in field 72.

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 MT 742 Reimbursement Claim

6. Field 33B: Additional Amount Claimed as Allowed for in Excess of

Principal Amount
FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional

DEFINITION

This field specifies any additional amount(s) paid/negotiated on the strength of special authorisation, such as
specifications provided in field 39C of the MT 700.

N
NETWORK VALIDATED RULES

IO
Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).
RS
USAGE RULES

If the amount claimed is in a currency other than the currency of the credit, then this field must indicate the
VE

currency of the amount claimed.

Details of the conversion and the amount deducted from the outstanding balance of the documentary credit
must be given in field 72.
T

7. Field 71B: Charges

EX

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

N

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional

DEFINITION

This field is used to identify charges which have been added or deducted by the Sender.

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CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

N
WAREHOUS Wharfing and warehouse

IO
USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.
RS
Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

8. Field 34a: Total Amount Claimed

VE

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

Option B 3!a15d (Currency)(Amount)
T

PRESENCE
EX

Mandatory

DEFINITION
N

This field specifies the currency code and total amount claimed from the reimbursing bank.

NETWORK VALIDATED RULES

In option A, Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

This field is the total of the amounts in fields 32B and 33B, and any charges specified in field 71B.

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 MT 742 Reimbursement Claim

9. Field 57a: Account With Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

N
DEFINITION

This field identifies the bank, if different from the Receiver, at which the Receiver is requested to remit the total

IO
amount claimed, in favour of the Sender of this message, or its branch or affiliate bank, as specified in field
58a.

NETWORK VALIDATED RULES RS

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
VE

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

10. Field 58a: Beneficiary Bank

T

FORMAT
EX

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)
N

PRESENCE

Optional

DEFINITION

This field identifies the branch or affiliate bank of the Sender, in favour of which the total amount claimed is to
be transferred.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including

19 September 2008 169

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

If the account of a branch or an affiliate of the Sender is to be credited by the Receiver, this field will be used
to identify that branch or affiliate and its account serviced by the Receiver. In this case, field 57a should not be
present.

Additionally, where there are multiple account relationships between the Sender and the Receiver or the
account with bank, this field shall specify the Sender's SWIFT address, that is, option A, and in the account
number line, the specific account to be credited.

11. Field 72: Sender to Receiver Information

FORMAT

N
6*35x (Narrative)

IO
In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
RS
information]
or
[/8c/[additional information]]
VE

PRESENCE

Optional

DEFINITION
T

This field contains instructions or additional information for the Receiver.

EX

CODES

The following code may be used:

REIMBREF Reimbursing bank's reference.

N

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

170 Message Reference Guide

 MT 742 Reimbursement Claim

MT 742 Examples
Example 1: Issue of a Documentary Credit
Narrative

On 7 June 2003, Chemical Bank, New York, issues its documentary credit number IMP 693/70224 to
Deutsche Bank AG, Munich.

This credit is issued on behalf of Macy's, 724 Seventh Avenue, New York, in the amount of Euro 95,000. The
credit is in favour of Deutsche Steins AG, Muenchering, Munich, covering 10,000 beer mugs:

5,000 of model B337

5,000 of model B324

N
The credit expires on 7 September 2003.

The following documents are required:

IO
Signed commercial invoice in quintuplicate

Forwarding Agent's Certificate of Receipt, showing goods addressed to Macy's

RS
Reimbursement will be provided through Chemical Bank, Frankfurt.

Information Flow
VE
T
EX
N

SWIFT Messages
Message A (MT 700)
Explanation Format

Sender CHEMUS33

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Explanation Format

Message Type 700

Receiver DEUTDEMM

Message Text

Sequence of Total :27:1/1

Form of Documentary Credit :40A:IRREVOCABLE

Documentary Credit Number :20:IMP 693/70224

Date of Issue :31C:030607

Date and Place of Expiry :31D:030907MUNICH

Applicant

N
:50:MACY'S
724 SEVENTH AVENUE
NEW YORK

IO
Beneficiary :59:DEUTSCHE STEINS AG
MUENCHERING
MUNICH

Currency Code/Amount

Available With ... By ...

RS :32B:EUR95000,

:41A:DEUTDEMM BY PAYMENT

Taking in Charge ... :44A:MUNICH

VE

For Transportation to ... :44B:NEW YORK

Description of Goods :45A:5,000 BEER MUGS MODEL B337

+5,000 BEER MUGS MODEL B324

Documents Required
T

:46A:+SIGNED COMMERCIAL INVOICE IN

QUINTUPLICATE
+FORWARDING AGENTS CERTIFICATE OF RECEIPT
EX

SHOWING GOODS ADDRESSED TO MACYS

Confirmation Instructions :49:WITHOUT

Reimbursement Bank :53A:CHEMDEFF

N

End of Message Text/Trailer

Message B (MT 740)

Explanation Format

Sender CHEMUS33

Message Type 740

Receiver CHEMDEFF

Message Text

Documentary Credit Number :20:IMP 693/70224

Credit Amount :32B:EUR95000,

172 Message Reference Guide

 MT 742 Reimbursement Claim

Explanation Format

Available With ... :41A:DEUTDEMM

By ... BY PAYMENT

End of Message Text/Trailer

Example 2: Reimbursement Claim

Narrative

On 23 August 2003, Deutsche Bank, Munich, requests reimbursement from Chemical Bank, Frankfurt, asking
that it pay Deutsche Bank, Munich's account number 700-373473 at Deutsche Bank, Frankfurt.

The amount claimed includes the total credit amount of EUR 95,000 and EUR 200 charges for commission.

N
Information Flow

IO
RS
VE
T
EX
N

SWIFT Message (MT 742)

Explanation Format

Sender DEUTDEMMA

Message Type 742

Receiver CHEMDEFF

Message Text

19 September 2008 173

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Claiming Bank's Reference :20:CL934372

Documentary Credit Number :21:IMP 693/70224

Date of Issue :31C:030607

Issuing Bank :52A:CHEMUS33

Principal Amount Claimed :32B:EUR95000,

Charges :71B:/COMM/EUR200,

Total Amount Claimed :34B:EUR95200,

Account With Bank :57A:DEUTDEFF

Beneficiary Bank

N
:58A:/700-373473
DEUTDEMM

End of Message Text/Trailer

IO
RS
VE
T
EX
N

174 Message Reference Guide

 MT 747 Amendment to an Authorisation to Reimburse

MT 747 Amendment to an Authorisation to Reimburse

MT 747 Scope
This message is sent by the bank which has issued an authorisation to reimburse (issuing bank) to the
reimbursing bank.

It is used to inform the Receiver about amendments to the terms and conditions of the credit relevant to the
authorisation to reimburse.

The amendment is to be considered as part of the authorisation to reimburse.

MT 747 Format Specifications

N
MT 747 Amendment to an Authorisation to Reimburse
Status Tag Field Name Content/Options No.

IO
M 20 Documentary Credit Number 16x 1

O 21 Reimbursing Bank's Reference 16x 2

O
30

31E
RS
Date of the Original Authorisation to Reimburse

New Date of Expiry

6!n

6!n
3

O 32B Increase of Documentary Credit Amount 3!a15d 5

VE

O 33B Decrease of Documentary Credit Amount 3!a15d 6

O 34B New Documentary Credit Amount After 3!a15d 7

Amendment

O 39A Percentage Credit Amount Tolerance 2n/2n

T

O 39B Maximum Credit Amount 13x 9

EX

O 39C Additional Amounts Covered 4*35x 10

O 72 Sender to Receiver Information 6*35x 11

O 77A Narrative 20*35x 12

N

M = Mandatory, O = Optional

MT 747 Network Validated Rules

C1 At least one of the fields 31E, 32B, 33B, 34B, 39A, 39B, 39C, 72 or 77A must be present (Error
code(s): C15).

C2 If either field 32B or 33B is present, then field 34B must also be present (Error code(s): C12).

C3 If field 34B is present, either field 32B or 33B must also be present (Error code(s): C12).

C4 Either field 39A or 39B, but not both, may be present (Error code(s): D05).

C5 The currency code in the amount fields 32B, 33B and 34B must be the same (Error code(s): C02).

19 September 2008 175

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 747 Usage Rules

• Terms and conditions which are not mentioned in the amendment message remain unchanged.

• The cancellation of an MT 740 Authorisation to Reimburse takes the form of an amendment. The MT 747
must therefore be used.

• There are special fields for amendments to the date of expiry and for increases or decreases in the amount
of the documentary credit. All other amendments must be specified in field 77A.

MT 747 Field Specifications

1. Field 20: Documentary Credit Number
FORMAT

N
16x

IO
PRESENCE

Mandatory

DEFINITION
RS
This field contains the documentary credit number which has been assigned by the issuing bank.
VE
NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
T

2. Field 21: Reimbursing Bank's Reference

FORMAT
EX

16x

PRESENCE
N

Optional

DEFINITION

This field contains the reference number, assigned by the Receiver of the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

176 Message Reference Guide

 MT 747 Amendment to an Authorisation to Reimburse

3. Field 30: Date of the Original Authorisation to Reimburse

FORMAT

6!n (Date)

PRESENCE

Mandatory

DEFINITION

This field specifies the date on which the original authorisation to reimburse was sent.

NETWORK VALIDATED RULES

N
Date must be a valid date expressed as YYMMDD (Error code(s): T50).

IO
4. Field 31E: New Date of Expiry
FORMAT

Option E 6!n
RS (Date)

PRESENCE
VE
Conditional (see rule C1)

DEFINITION

This field specifies the new, that is, revised, expiry date for presentation under the documentary credit.
T

NETWORK VALIDATED RULES

EX

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

This field should not be used to specify a new latest date for presentation of a reimbursement claim or a new
N

expiry date for the reimbursement authorisation.

5. Field 32B: Increase of Documentary Credit Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rules C1, C3, and C5)

19 September 2008 177

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field contains the currency code and amount by which the documentary credit amount has been
increased.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B, 33B and 34B must be the same (Error code(s): C02).

USAGE RULES

N
Currency of any increase in the credit must be in the same currency as that of the original credit.

6. Field 33B: Decrease of Documentary Credit Amount

IO
FORMAT

Option B 3!a15d RS (Currency)(Amount)

PRESENCE
VE
Conditional (see rules C1, C3, and C5)

DEFINITION

This field contains the currency code and amount by which the documentary credit amount has been
decreased.
T

NETWORK VALIDATED RULES

EX

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
N

number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B, 33B and 34B must be the same (Error code(s): C02).

USAGE RULES

Currency of any decrease in the credit must be in the same currency as that of the original credit.

7. Field 34B: New Documentary Credit Amount After Amendment

FORMAT

Option B 3!a15d (Currency)(Amount)

178 Message Reference Guide

 MT 747 Amendment to an Authorisation to Reimburse

PRESENCE

Conditional (see rules C1, C2, and C5)

DEFINITION

This field contains the currency code and total amount of the documentary credit after the amendment,
disregarding any drawings on the credit.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

N
Currency in fields 32B, 33B and 34B must be the same (Error code(s): C02).

USAGE RULES

IO
Currency of the new documentary credit must be in the same currency as that of the original credit.

8. Field 39A: Percentage Credit Amount Tolerance

RS
FORMAT

Option A 2n/2n (Tolerance 1)(Tolerance 2)

VE

PRESENCE

Conditional (see rules C1 and C4)

T

DEFINITION
EX

Where the credit amount tolerance is being amended, this field specifies the new tolerance relative to the
documentary credit amount as a percentage plus and/or minus that amount.

USAGE RULES
N

Tolerance 1 specifies a positive tolerance, Tolerance 2 specifies a negative tolerance.

9. Field 39B: Maximum Credit Amount

FORMAT

Option B 13x (Code)

PRESENCE

Conditional (see rules C1 and C4)

DEFINITION

This field further qualifies the documentary credit amount.

19 September 2008 179

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

CODES

The following code must be used (Error code(s): T01):

NOT EXCEEDING Qualifies the documentary credit amount.

10. Field 39C: Additional Amounts Covered

FORMAT

Option C 4*35x (Narrative)

PRESENCE

Conditional (see rule C1)

N
DEFINITION

IO
This field specifies amendments to any additional amounts covered such as insurance, freight, interest, etc.

11. Field 72: Sender to Receiver Information

FORMAT
RS
6*35x (Narrative)
VE

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
T

or
[/8c/[additional information]]
EX

PRESENCE

Conditional (see rule C1)

N

DEFINITION

This field contains instructions or additional information for the Receiver.

CODES

The following code may be used:

CANC The reimbursement authorisation is cancelled for the unutilised portion of the credit to which
it refers.

USAGE RULES

Any new latest date for a reimbursement claim or a new expiry date for the reimbursement authorisation
should be indicated in this field and not in field 31E.

180 Message Reference Guide

 MT 747 Amendment to an Authorisation to Reimburse

When this field is used to indicate if pre-debit notification from the reimbursing bank to the issuing bank is
required, the number and type, that is, banking or calendar, of days within which the issuing bank must be
notified should also be indicated.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

12. Field 77A: Narrative

FORMAT

Option A 20*35x (Narrative)

PRESENCE

N
Conditional (see rule C1)

IO
DEFINITION

This field specifies amendments for which no other specific field has been included in the message.

MT 747 Examples
RS
Narrative
VE

On 17 May 2003, Skandinaviska Enskilda Banken issues its documentary credit number DC.IMP 3410/3444,
to Generale Bank, Brussels, the advising bank, and its authorisation to reimburse to Manufacturers Hanover
Trust Company, New York.

(To review the MT 700/701 issuing this documentary credit and the MT 740 authorising reimbursement, see
T

the respective Example sections.)

On 21 May 2003, Skandinaviska Enskilda Banken notifies Manufacturers Hanover Trust Company, New York
EX

of the following changes to the terms and conditions of the documentary credit:

• The expiry date of the credit has been extended to 30 September 2003.
• The amount of the credit has been increased by USD 3,250 to USD 34,750.
N

Information Flow

19 September 2008 181

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT Message

Explanation Format

Sender ESSESESS

Message Type 747

Receiver MAHAUS33

Message Text

Sender's Reference :20:DC.IMP 3410/3444

Date of Original Authorisation to Reimburse :30:030517

New Date of Expiry :31E:030930

Increase of D/C :32B:USD3250,

N
New D/C Amount :34B:USD34750,

IO
End of Message Text/Trailer

RS
VE
T
EX
N

182 Message Reference Guide

 MT 750 Advice of Discrepancy

MT 750 Advice of Discrepancy

MT 750 Scope
This message is sent by the bank to which documents have been presented, to the issuing bank. It may also
be sent to a bank nominated to pay/accept/negotiate/incur a deferred payment undertaking.

It is used to advise the Receiver that documents which have been presented are not in accordance with the
terms and conditions of the credit.

The MT 750 is a request for authorisation to take up documents. Authorisation may be provided using an
MT 752 Authorisation to Pay, Accept or Negotiate; a negative reply to the request may be provided using an
MT 796 Answers.

N
MT 750 Format Specifications

IO
MT 750 Advice of Discrepancy
Status Tag Field Name Content/Options No.

M 20 Sender's Reference 16x 1

M 21 Related Reference
RS 16x 2

M 32B Principal Amount 3!a15d 3

O 33B Additional Amount 3!a15d 4

VE

O 71B Charges to be Deducted 6*35x 5

O 73 Charges to be Added 6*35x 6

O 34B Total Amount to be Paid 3!a15d 7

T

O 57a Account With Bank A, B, or D 8

EX

O 72 Sender to Receiver Information 6*35x 9

M 77J Discrepancies 70*50x 10

M = Mandatory, O = Optional
N

MT 750 Network Validated Rules

C1 If field 33B and/or field 71B and/or field 73 is/are present, field 34B must also be present (Error
code(s): C13).

C2 The currency code in the amount fields 32B and 34B must be the same (Error code(s): C02).

19 September 2008 183

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 750 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains the reference number which has been assigned by the Sender.

N
NETWORK VALIDATED RULES

IO
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference RS

FORMAT
VE
16x

PRESENCE

Mandatory
T

DEFINITION
EX

If the message is sent to the issuing bank, this field contains the documentary credit number assigned by the
issuing bank.

If the message is sent to a bank other than the issuing bank, this field contains either the documentary credit
number assigned by the issuing bank, or another reference meaningful to the Receiver.
N

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

3. Field 32B: Principal Amount

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

184 Message Reference Guide

 MT 750 Advice of Discrepancy

DEFINITION

This field contains the currency code and amount to be deducted from the outstanding balance of the
documentary credit.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03).

Currency in fields 32B and 34B must be the same (Error code(s): C02).

4. Field 33B: Additional Amount

N
FORMAT

IO
Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional
RS
DEFINITION
VE
This field specifies any additional amount(s) as allowed for in the credit, for example, insurance.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).
T

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).
EX

USAGE RULES

Currency may be different from the currency in field 32B. In this event, an explanation of any currency
N

conversion(s) must be specified in field 72.

5. Field 71B: Charges to be Deducted

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

19 September 2008 185

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Optional

DEFINITION

This field specifies charges which have been deducted from the amount of the drawing.

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

N
DISC Commercial discount

INSUR Insurance premium

IO
POST Our postage

STAMP Stamp duty

TELECHAR

WAREHOUS
RS
Teletransmission charges

Wharfing and warehouse

VE
USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.
T

6. Field 73: Charges to be Added

EX

FORMAT

6*35x (Narrative)
N

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d] [additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional

DEFINITION

This field specifies the charges which have been added to the amount of the drawing.

186 Message Reference Guide

 MT 750 Advice of Discrepancy

USAGE RULES

The structured format may be used with bilaterally agreed codes.

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

7. Field 34B: Total Amount to be Paid

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

N
Conditional (see rule C1)

IO
DEFINITION

This field contains the currency code and total amount to be remitted to the Sender of the message.

NETWORK VALIDATED RULES

RS
Currency must be a valid ISO 4217 currency code (Error code(s): T52).
VE
The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B and 34B must be the same (Error code(s): C02).
T

8. Field 57a: Account With Bank

EX

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
N

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

This field identifies the bank at which any amounts due are to be remitted in favour of the Sender.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

19 September 2008 187

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

If there is a direct account relationship in the currency of the claim between the Sender and the Receiver, the
absence of field 57a implies that this account relationship will be used in settlement of the amount to be
remitted to the Sender.

9. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

N
In addition to narrative text, structured text with the following line formats may be used:

IO
Line 1 /8c/[additional information]
Lines 2-6 [//continuation of additional
information]
or RS
[/8c/[additional information]]

PRESENCE
VE

Optional

DEFINITION

This field contains instructions or additional information for the Receiver.

T

USAGE RULES
EX

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
N

the field.

10. Field 77J: Discrepancies

FORMAT

Option J 70*50x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[add'l information] (Code)(Narrative)

Lines 2-70 [//add'l information] (Narrative)
or
/8a/[add'l information] (Code)(Narrative)

188 Message Reference Guide

 MT 750 Advice of Discrepancy

PRESENCE

Mandatory

DEFINITION

This field specifies the discrepancy(ies) of the document(s).

USAGE RULES

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

N
MT 750 Examples

IO
Narrative

On 17 May 2003, Skandinaviska Enskilda Banken issues its documentary credit number DC.IMP 3410/3444,
to Generale Bank, Brussels, the advising bank, and its authorisation to reimburse to Manufacturers Hanover
RS
Trust Company, New York.

On 21 May 2003, Skandinaviska Enskilda Banken notifies Generale Bank that the expiry date of the credit has
been extended to 30 September 2003 and the amount has been increased to USD 34,750.
VE

(To review the MT 700/701 issuing this documentary credit and the MT 707 amending it see the respective
Example sections.)

On 23 August 2003, Generale Bank advises Skandinaviska Enskilda Banken that the documents have been
presented with the following discrepancies:
T

• Copy of consular invoice was not presented

EX

• Copy letter from beneficiary's does not show original consular invoice airmailed to applicant.

Generale Bank requests authorisation (reference EXP98734) to accept a draft for the full credit amount due 18
September 2003.
N

Information Flow

19 September 2008 189

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT Message

Explanation Format

Sender GEBABEBB

Message Type 750

Receiver ESSESESS

Message Text

Sender's Reference :20:EXP98734

Related Reference :21:DC.IMP 3410/3444

Principal Amount :32B:USD34750,

Discrepancies :77J:COPY CONSULAR INVOICE NOT

N
PRESENTED AND COPY LETTER FROM
BENEFICIARY'S TO APPLICANT DOES NOT
SHOW ORIGINAL CONSULAR INVOICE

IO
AIRMAILED TO APPLICANT

End of Message Text/Trailer

RS
VE
T
EX
N

190 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

MT 752 Authorisation to Pay, Accept or Negotiate

MT 752 Scope
This message is sent by the issuing bank, or the nominated bank if so authorised by the issuing bank, to a
paying/accepting/negotiating bank in response to a request for authorisation to pay/accept/negotiate/incur a
deferred payment undertaking previously requested via an MT 750 Advice of Discrepancy or otherwise.

It is used to advise the Receiver that documents may be taken up, notwithstanding the discrepancies,
provided they are otherwise in order.

MT 752 Format Specifications

N
MT 752 Authorisation to Pay, Accept or Negotiate
Status Tag Field Name Content/Options No.

IO
M 20 Documentary Credit Number 16x 1

M 21 Presenting Bank's Reference 16x 2

M 23 Further Identification
RS 16x 3

M 30 Date of Advice of Discrepancy or Mailing 6!n 4

O 32B Total Amount Advised 3!a15d 5

VE
O 71B Charges Deducted 6*35x 6

O 33a Net Amount A or B 7

O 53a Sender's Correspondent A, B, or D 8

O 54a Receiver's Correspondent A, B, or D 9

T

O 72 Sender to Receiver Information 6*35x 10

EX

M = Mandatory, O = Optional

MT 752 Network Validated Rules

N

C1 If fields 32B and 71B are both present, then field 33a must also be present (Error code(s): C18).

C2 The currency code in the amount fields 32B and 33a must be the same (Error code(s): C02).

MT 752 Usage Rules

• When cover is to be remitted via other banks, these banks are specified in fields 53a and 54a.

• The code RCB may only be used in field 72 if both fields 53a and 54a are present in the message.

19 September 2008 191

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 752 Field Specifications

1. Field 20: Documentary Credit Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the documentary credit number which has been assigned by the issuing bank.

N
NETWORK VALIDATED RULES

IO
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Presenting Bank's Reference RS

FORMAT
VE
16x

PRESENCE

Mandatory
T

DEFINITION
EX

This field contains the reference number which has been assigned by the presenting bank (Receiver).

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
N

T26).

3. Field 23: Further Identification

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field further identifies the purpose of the message.

192 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

CODES

One of the following codes must be used:

ACCEPT Conveys an authorisation to accept a draft.

DEBIT Conveys an authorisation to debit the account of the issuing bank.

NEGOTIATE Conveys an authorisation to negotiate the documents with discrepancies in those

cases where the original credit provides no specific reimbursement instructions or
payment provisions.

REIMBURSE Conveys an authorisation to the presenting bank to claim reimbursement.

REMITTED Is used to pay the presenting bank.

SEE72 Conveys an authorisation and/or payment which is a mixture of the above, or a

special version of one of them and the conditions are explained in field 72.

N
USAGE RULES

IO
When code is REMITTED, field 33A must be present, specifying the value date of the remittance and the
amount.

4. Field 30: Date of Advice of Discrepancy or Mailing

RS
FORMAT

6!n (Date)
VE

PRESENCE

Mandatory
T

DEFINITION
EX

This field specifies the date on which the advice of discrepancy was sent, either electronically or by mail.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

N

5. Field 32B: Total Amount Advised

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional

DEFINITION

This field contains the currency code and total amount advised by the presenting bank, for example, field 34B
from the MT 750.

19 September 2008 193

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B and 33a must be the same (Error code(s): C02).

6. Field 71B: Charges Deducted

FORMAT

Option B 6*35x (Narrative)

N
In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

IO
information]
Lines 2-6 [//continuation of additional
information]

PRESENCE
RS
Optional
VE

DEFINITION

This field is used to specify the charges which have been deducted, by the Sender of the message, from the
total amount advised.
T

CODES

One or more of the following codes may be used, followed by the currency code and amount:
EX

AGENT Agent's commission

COMM Our commission

N

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

194 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

7. Field 33a: Net Amount

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

Option B 3!a15d (Currency)(Amount)

PRESENCE

Conditional (see rule C1)

DEFINITION

N
This field specifies the currency code and net amount that was or will be remitted or is to be claimed, and
possibly a value date.

IO
NETWORK VALIDATED RULES

In option A, Date must be a valid date expressed as YYMMDD (Error code(s): T50).
RS
Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
VE
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B and 33a must be the same (Error code(s): C02).

USAGE RULES
T

When REMITTED is specified in field 23, option A must be used, specifying the value date on which the net
amount was or will be remitted.
EX

When DEBIT is specified in field 23, option A must be used, specifying the value date on which the account of
the issuing bank is to be debited with the net amount.

8. Field 53a: Sender's Correspondent

N

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

19 September 2008 195

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

Where required, this field specifies the account or branch of the Sender or another bank through which the
Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

9. Field 54a: Receiver's Correspondent

N
FORMAT

Option A [/1!a][/34x] (Party Identifier)

IO
4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] RS (Party Identifier)
4*35x (Name & Address)

PRESENCE
VE

Optional

DEFINITION

Where required, this field specifies the branch of the Receiver or another financial institution at which the
T

funds will be made available to the Receiver.

NETWORK VALIDATED RULES

EX

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
N

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

In those cases where funds will be made available to the Receiver at its branch or another bank, through a
financial institution other than the one indicated in field 53a, this financial institution, that is, the intermediary
institution, should be specified in field 54a. Field 72 must in this case contain the code RCB (Receiver's
Correspondent Bank), followed by the BIC of the Receiver's branch or other bank.

10. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

196 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Optional

DEFINITION

This field contains instructions or additional information for the Receiver.

N
CODES

The following code may be used:

IO
RCB Receiver's Correspondent Bank

USAGE RULES RS
The structured line format may also be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.
VE

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

When there is an intermediary bank between the Sender's and Receiver's correspondent, this field should
contain the code RCB, followed by the BIC code (or narrative name and address) of the Receiver's
T

correspondent. Remark that the code RCB may only be used if both fields 53a and 54a are present.

This field may include ERI, as specified in the chapter entitled "Euro - Impact on SWIFT Message Standards".
EX

MT 752 Examples
N

Example 1: Message A Advice of Discrepancy MT 750

Narrative

On 7 June 2003, Chemical Bank, New York issues its documentary credit number IMP 693/70224 to Deutsche
Bank, Munich.

(To review the details of this credit, see the Example section of MT 742.)

The mugs were delivered to the forwarding agent and a sight draft was presented to Deutsche Bank, Munich.
On 15 August 2003, after examining the documents, Deutsche Bank sends an MT 750 Advice of Discrepancy
to Chemical Bank, New York, advising that the documents have been presented with the following
discrepancy:

• Three (3) versus five (5) commercial invoices were presented.

19 September 2008 197

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Deutsche Bank, Munich, requests authorisation (Reference DIS93708) to pay the draft for the full credit
amount.

Information Flow

N
IO
SWIFT Message

Explanation Format

Sender RS DEUTDEMM

Message Type 750

Receiver CHEMUS33
VE
Message Text

Presenting Bank's Reference :20:DIS93708

Related Reference :21:IMP 693/70224

Principal Amount
T

:32B:EUR95000,

Discrepancies :77A:THREE (3) COMMERCIAL INVOICES

EX

INSTEAD OF FIVE (5) PRESENTED

End of Message Text/Trailer

Message B Authorisation to Pay, Accept or Negotiate

N

Narrative

On 16 August 2003, Chemical Bank, New York, sends Deutsche Bank, Munich an MT 752 Authorisation to
Pay, Accept or Negotiate, advising it to pay and accept the draft.

198 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

Information Flow

N
SWIFT Message

Explanation Format

IO
Sender CHEMUS33

Message Type 752

Receiver RS DEUTDEMM

Message Text

Documentary Credit Number :20:IMP 693/70224

VE

Presenting Bank's Reference :21:DIS93708

Further Identification :23:ACCEPT

Date of Adv of Discrepancy :30:030815

T

End of Message Text/Trailer

EX

Example 2: Message A Authorisation to Pay, Accept or Negotiate

Narrative
N

On 17 May 2002, Skandinaviska Enskilda Banken issues its documentary credit number DC.IMP 3410/3444
to Generale Bank, Brussels.

On 23 August 2003, Generale Bank request authorisation to accept the draft for the full credit amount.

(To review the MT 700, 701, 707 and 750 relating to this documentary credit, see the respective Example
sections.)

On 25 August 2003, Skandinaviska Enskilda Banken authorises Generale Bank to accept the draft.

19 September 2008 199

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Information Flow

N
SWIFT Message

Explanation Format

IO
Sender ESSESESS

Message Type 752

Receiver RS GEBABEBB

Message Text

Documentary Credit Number :20:DC.IMP 3410/3444

VE

Presenting Bk's Reference :21:EXP98734

Further Identification :23:ACCEPT

Date of Advice of Discrep. :30:030823

T

End of Message Text/Trailer

EX

Message B Reimbursement Claim

Narrative
N

On the maturity date of the draft, Generale Bank requests Manufacturers Hanover Trust Company to credit its
account in reimbursement.

Commission charges of USD 36 have been added to the total amount of the credit.

200 Message Reference Guide

 MT 752 Authorisation to Pay, Accept or Negotiate

Information Flow

N
IO
SWIFT Message

Explanation RS Format

Sender GEBABEBB

Message Type 742

VE
Receiver MAHAUS33

Message Text

Claiming Bank's Reference :20:EXP98734

Documentary Credit Number

T

:21:DC.IMP 3410/3444

Issue Date of D/C :31C:030517

EX

Issuing Bank :52A:ESSESESS

Principal Amount Claimed :32B:USD34750,

Charges :71B:/COMM/USD36,
N

Total Amount Claimed :34A:030918USD34786,

End of Message Text/Trailer

19 September 2008 201

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 754 Advice of Payment/Acceptance/Negotiation

MT 754 Scope
This message is sent by the paying, accepting or negotiating bank, or the bank incurring a deferred payment
undertaking, to the issuing bank. It may also be sent by the bank to which documents have been presented to
a bank that has been nominated to pay/accept.

It is used to advise the Receiver that documents were presented in accordance with the credit terms and are
being forwarded as instructed.

The MT 754 may also be used:

• for the settlement of the payment/negotiation

N
• as a pre-notification of a reimbursement claim from the claiming bank to the issuing bank

• as a pre-debit notification from the claiming bank to the issuing bank.

IO
Note: Where a pre-debit notification from the reimbursing bank to the issuing bank is required, banks
should use the MT 799 Free Format message, specifying the future date of debit.

MT 754 Format Specifications RS

MT 754 Advice of Payment/Acceptance/Negotiation
Status Tag Field Name Content/Options No.
VE

M 20 Sender's Reference 16x 1

M 21 Related Reference 16x 2

M 32a Principal Amount Paid/Accepted/Negotiated A or B 3

T

O 33B Additional Amounts 3!a15d 4

EX

O 71B Charges Deducted 6*35x 5

O 73 Charges Added 6*35x 6

O 34a Total Amount Claimed A or B 7

N

O 53a Reimbursing Bank A, B, or D 8

O 57a Account With Bank A, B, or D 9

O 58a Beneficiary Bank A or D 10

O 72 Sender to Receiver Information 6*35x 11

O 77A Narrative 20*35x 12

M = Mandatory, O = Optional

MT 754 Network Validated Rules

C1 Either field 72 or 77A may be present, but not both (Error code(s): C19).

202 Message Reference Guide

 MT 754 Advice of Payment/Acceptance/Negotiation

C2 Either field 53a or 57a may be present, but not both (Error code(s): C14).

C3 The currency code in the amount fields 32a and 34a must be the same (Error code(s): C02).

MT 754 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

PRESENCE

N
Mandatory

DEFINITION

IO
This field contains the reference number which has been assigned by the Sender.

NETWORK VALIDATED RULES RS

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
VE

2. Field 21: Related Reference

FORMAT

16x
T

PRESENCE
EX

Mandatory

DEFINITION
N

If the MT 754 is sent to the Issuing Bank, this field contains the documentary credit number assigned by the
issuing bank.

If the message is sent to a bank other than the issuing bank, this field contains either the documentary credit
number assigned by the issuing bank, or another reference meaningful to the Receiver.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

19 September 2008 203

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

3. Field 32a: Principal Amount Paid/Accepted/Negotiated

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the currency code and amount which has been paid, accepted or negotiated by the Sender.

N
NETWORK VALIDATED RULES

In option A, Date must be a valid date expressed as YYMMDD (Error code(s): T50).

IO
Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
RS
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32a and 34a must be the same (Error code(s): C02).
VE
USAGE RULES

The amount will be deducted from the outstanding balance of the documentary credit.

4. Field 33B: Additional Amounts

T

FORMAT
EX

Option B 3!a15d (Currency)(Amount)

PRESENCE
N

Optional

DEFINITION

This field specifies the currency code and amount of any additional amounts allowed for in the credit, such as
insurance.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

204 Message Reference Guide

 MT 754 Advice of Payment/Acceptance/Negotiation

USAGE RULES

Currency may be different from that in field 32a. When this is the case, an explanation of any currency
conversion(s) must be provided in field 72 (or field 77A).

5. Field 71B: Charges Deducted

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional

N
information]

IO
PRESENCE

Optional

DEFINITION
RS
This field is used to specify the charges which have been deducted from the amount paid/accepted/
negotiated.
VE

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

T

COMM Our commission

EX

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

N

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

19 September 2008 205

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

6. Field 73: Charges Added

FORMAT

6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d] [additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

N
Optional

DEFINITION

IO
This field is used to specify any charges which have been added to the amount paid/accepted/negotiated.

CODES
RS
One or more of the following codes may be used:

ACCPTCOM Acceptance commission.

VE

ADVCOM Advising commission.

AMNDCOM Amendment commission.

CONFCOM Confirmation commission.

CORCOM Correspondent charges.

T

DEFCOM Deferred payment commission.

EX

DSCRPCOM Discrepancies commission.

HANDLCOM Handling commission.

INTEREST Any interest including discount charges.

N

MISC Miscellaneous.

NEGCOM Negotiation commission.

NOTFCOM Notification commission.

PAYCOM Payment commission.

POST Postal/Courier charges.

PREADCOM Preadvice commission.

SEE72 Additional details are provided in field 72.

SEE77A Additional details are provided in field 77A.

STAMP Stamp duty.

TELECHAR Teletransmission charges.

206 Message Reference Guide

 MT 754 Advice of Payment/Acceptance/Negotiation

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

7. Field 34a: Total Amount Claimed

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

Option B 3!a15d (Currency)(Amount)

PRESENCE

N
Optional

IO
DEFINITION

This field specifies the currency code and total amount claimed or to be remitted, and possibly a value date.

NETWORK VALIDATED RULES RS

In option A, Date must be a valid date, expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).
VE

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32a and 34a must be the same (Error code(s): C02).
T

USAGE RULES
EX

Depending on how the MT 754 is used, the following table provides additional information about the use of this
field:

If MT 754 is used as ... then ... where the date in 34A is ...
N

Pre-debit Notification always use field 34A future date of debit

Reimbursement Advice use field 34A requested execution date

or field 34B

Request for Reimbursement use field 34A requested execution date

or field 34B

8. Field 53a: Reimbursing Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)

19 September 2008 207

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Option B [/1!a][/34x] (Party Identifier)

[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Conditional (see rule C2)

DEFINITION

This field specifies the bank from which the Sender has claimed reimbursement, in accordance with the terms
of the documentary credit. This may be a branch of the Sender or the Receiver or an entirely different bank.

NETWORK VALIDATED RULES

N
Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more

IO
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

9. Field 57a: Account With Bank

RS
FORMAT
VE

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
T

4*35x (Name & Address)

EX

PRESENCE

Conditional (see rule C2)

DEFINITION
N

This field identifies the bank at which the Receiver is requested to remit the total amount claimed in favour of
the Sender of this message, or its branch or affiliate bank as specified in field 58a.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

208 Message Reference Guide

 MT 754 Advice of Payment/Acceptance/Negotiation

10. Field 58a: Beneficiary Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

DEFINITION

N
This field identifies the branch or affiliate bank of the Sender, in favour of which the total amount claimed is to
be transferred.

IO
NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
RS
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
VE
USAGE RULES

If the account of a branch or an affiliate of the Sender is to be credited by the Receiver, this field will be used
to identify that branch or affiliate and its account serviced by the Receiver. In this case, field 57a should not be
present.
T

Additionally, in those cases where there are multiple account relationships between the Sender and the
Receiver or the account with bank, this field shall specify the Sender's SWIFT BIC, that is, option A, and, in
EX

the account number line, the specific account to be credited.

11. Field 72: Sender to Receiver Information

FORMAT
N

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Conditional (see rule C1)

19 September 2008 209

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

DEFINITION

This field contains additional information for the Receiver or account with bank.

CODES

One or more of the following codes may be used:

ACC Instructions following are for the account with bank

PHONBEN Please advise/contact beneficiary by phone

REC Instructions following are for the Receiver

TELEBEN Please advise the beneficiary by the most efficient means of telecommunication

USAGE RULES

N
This field may include ERI, as specified in the chapter entitled "Euro - Impact on SWIFT Message Standards".

IO
Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

12. Field 77A: Narrative

RS
FORMAT
VE

Option A 20*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[add'l information] (Code)(Narrative)

T

Lines 2-20 [//add'l information] (Narrative)

EX

PRESENCE

Conditional (see rule C1)

N

DEFINITION

This field contains additional information for which no other field has been defined within the message.

USAGE RULES

This field is to be used instead of field 72, only when that field is not sufficient.

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

210 Message Reference Guide

 MT 754 Advice of Payment/Acceptance/Negotiation

MT 754 Examples
Narrative

On 17 August 2003, Deutsche Bank, Munich, pays Deutsche Steins EUR 95,000 provided under the terms of
documentary credit number IMP 693/70224 issued by Chemical Bank, New York.

(To review the details of this credit, see the Example sections of the MTs 742 and 752.)

On the same day, Deutsche Bank advises Chemical Bank, New York of the payment and forwarding of
documents, indicating it has claimed reimbursement for the credit amount and its commission of EUR 200.

Deutsche Bank, Munich, sends an MT 754 Advice of Payment/Acceptance/Negotiation (reference CL934372).

Information Flow

N
IO
RS
VE

SWIFT Message

Explanation Format
T

Sender DEUTDEMM
EX

Message Type 754

Receiver CHEMUS33

Message Text
N

Sender's Reference :20:CL934372

Related Reference :21:IMP 693/70224

Principal Amount Paid :32A:030817EUR95000,

Charges Added :73:COMMISSION EUR200,

Total Amount Claimed :34A:030817EUR95200,

Reimbursing Bank :53A:CHEMDEFF

End of Message Text/Trailer

19 September 2008 211

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 756 Advice of Reimbursement or Payment

MT 756 Scope
This message is sent by the issuing bank to the bank from which it has received documents or by the
reimbursing bank to the bank from which it has received a reimbursement claim. It may also be sent by the
bank nominated to pay/accept/negotiate/incur a deferred payment undertaking to the bank from which it has
received documents.

It is used to advise the Receiver about reimbursement or payment, to that bank, for a drawing under a
documentary credit for which no specific reimbursement instructions or payment provisions were provided.

The account relationship between the Sender and the Receiver is used unless otherwise expressly stated in
the message.

N
MT 756 Format Specifications

IO
MT 756 Advice of Reimbursement or Payment
Status Tag Field Name Content/Options No.

M 20 Sender's Reference
RS 16x 1

M 21 Presenting Bank's Reference 16x 2

M 32B Total Amount Claimed 3!a15d 3

VE

M 33A Amount Reimbursed or Paid 6!n3!a15d 4

O 53a Sender's Correspondent A, B, or D 5

O 54a Receiver's Correspondent A, B, or D 6

T

O 72 Sender to Receiver Information 6*35x 7

M = Mandatory, O = Optional
EX

MT 756 Network Validated Rules

N

C1 The currency code in the amount fields 32B and 33A must be the same (Error code(s): C02).

MT 756 Usage Rules

• The code RCB may only be used in field 72 if both fields 53a and 54a are present in the message.

MT 756 Field Specifications

1. Field 20: Sender's Reference
FORMAT

16x

212 Message Reference Guide

 MT 756 Advice of Reimbursement or Payment

PRESENCE

Mandatory

DEFINITION

When this message is sent by the Issuing Bank, or the bank nominated to pay/accept/negotiate, this field
specifies the documentary credit number which has been assigned by the issuing bank.

In all other cases this field contains a reference meaningful to the Sender.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

N
2. Field 21: Presenting Bank's Reference
FORMAT

IO
16x

PRESENCE RS
Mandatory

DEFINITION
VE

This field contains the reference number which has been assigned by the presenting bank.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T

T26).
EX

USAGE RULES

When the MT 756 is being sent to the presenting bank by the reimbursing bank, this field should contain the
contents of field 20 Claiming Bank's Reference of the MT 742 Reimbursement Claim or an equivalent
reference.
N

3. Field 32B: Total Amount Claimed

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Mandatory

DEFINITION

This field contains the currency code and total amount claimed by the bank from which documents have been
received.

19 September 2008 213

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 32B and 33A must be the same (Error code(s): C02).

4. Field 33A: Amount Reimbursed or Paid

FORMAT

Option A 6!n3!a15d (Date)(Currency)(Amount)

N
PRESENCE

Mandatory

IO
DEFINITION

This field specifies the value date, currency code and net amount to be reimbursed or paid.
RS
NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

VE

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).
T

Currency in fields 32B and 33A must be the same (Error code(s): C02).
EX

USAGE RULES

If there is a difference between this amount and the amount specified in field 32B, this must be explained in
field 72.
N

5. Field 53a: Sender's Correspondent

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE

Optional

214 Message Reference Guide

 MT 756 Advice of Reimbursement or Payment

DEFINITION

Where required, this field specifies the account or branch of the Sender or another financial institution through
which the Sender will reimburse the Receiver.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender

N
and Receiver, in the currency of the credit, will be used.

6. Field 54a: Receiver's Correspondent

IO
FORMAT

Option A [/1!a][/34x]
4!a2!a2!c[3!c]
RS (Party Identifier)
(Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
VE
Option D [/1!a][/34x] (Party Identifier)
4*35x (Name & Address)

PRESENCE
T

Optional

DEFINITION
EX

Where required, this field specifies the branch of the Receiver or another financial institution at which the
funds will be made available to the Receiver.

NETWORK VALIDATED RULES

N

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

USAGE RULES

The absence of fields 53a and/or 54a implies that the single direct account relationship between the Sender
and Receiver, in the currency of the credit, will be used.

In those cases where funds will be made available to the Receiver at its branch or another bank, through a
financial institution other than the one indicated in field 53a, this financial institution, that is, the intermediary
institution, should be specified in field 54a. Field 72 must in this case contain the code RCB (Receiver's
Correspondent Bank), followed by the BIC of the Receiver's branch or other bank.

19 September 2008 215

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

7. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

N
Optional

IO
DEFINITION

This field contains additional information for the Receiver.

CODES

The following code may be used:

RS
VE
RCB Receiver's Correspondent Bank

USAGE RULES

The structured line format may also be used for bilaterally agreed codes.
T

Any code must be between slashes and must appear at the beginning of a line.
EX

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

When there is an intermediary bank between the Sender's and Receiver's correspondent, this field should
contain the code RCB, followed by the BIC code (or narrative name and address) of the Receiver's
correspondent. Note that, the code RCB may only be used if both fields 53a and 54a are present.
N

This field may include ERI, as specified in the chapter entitled "Euro - Impact on SWIFT Message Standards".

MT 756 Examples
Example 1: Issue of a Documentary Credit
Narrative

On 23 September 2003, Midland Bank, London, issues its documentary credit number DC86411891 to The
Fuji Bank, Osaka.

This credit is issued on behalf of Harrod's, Knightsbridge, London, in the amount of Pounds Sterling 38,000.
The credit is in favour of Tsashubi, 11-4 Kyodan-ku, Osaka covering 250 hand-painted bamboo screens:

216 Message Reference Guide

 MT 756 Advice of Reimbursement or Payment

100 3H number 6481

150 Single number 2219

The credit expires on 23 December 2003.

The following documents are required:

Signed commercial invoice in quadruplicate

Forwarding Agent's Certificate of Receipt, showing goods addressed to Harrod's

Information Flow

N
IO
RS
VE
T
EX

SWIFT Message (MT 700)

Explanation Format
N

Sender MIDLGB22

Message Type 700

Receiver FUJIJPJS

Message Text

Sequence of Total :27:1/1

Form of Documentary Credit :40A:IRREVOCABLE

Documentary Credit Number :20:DC86411891

Date of Issue :31C:030923

Date and Place of Expiry :31D:031223OSAKA

19 September 2008 217

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Applicant :50:HARROD'S
KNIGHTSBRIDGE
LONDON

Beneficiary :59:TSASHUBI
11-4 KYODAN-KU
OSAKA

Currency Code/Amount :32B:GBP38000,

Available With ... :41A:MIDLGB22

By ... BY PAYMENT

Taking in Charge ... :44A:OSAKA

For Transportation to ... :44B:LONDON

N
Description of Goods :45A:+250 HAND PAINTED BAMBOO SCREENS
+100 3H NO 6481

IO
+150 SINGLE NO 2219

Documents Required :46A:+SIGNED COMMERCIAL INVOICE IN

QUADRUPLICATE
RS +FORWARDING AGENTS CERTIFICATE
OF RECEIPT SHOWING GOODS
ADDRESSED TO HARROD'S

Confirmation Instructions :49:WITHOUT

VE

End of Message Text/Trailer

Example 2: Advice of Reimbursement or Payment

T

Narrative
EX

On 6 November 2003, Midland Bank, London, advises The Fuji Bank, Osaka, that full reimbursement will be
credited to them, for payment of the documentary credit plus charges, at the Fuji Bank Limited's London
branch.

Information Flow
N

218 Message Reference Guide

 MT 756 Advice of Reimbursement or Payment

SWIFT Message

Explanation Format

Sender MIDLGB22

Message Type 756

Receiver FUJIJPJS

Message Text

Sender's Reference :20:DC86411891

Presenting Bank's Reference :21:PT93118428

Total Amount Claimed :32B:GBP38078,

Amount Reimbursed or Paid :33A:031105GBP38078,

N
Sender's Correspondent :53A:FUJIGB2L

IO
End of Message Text/Trailer

Example 3: General Financial Institution Transfer

Narrative
RS
Midland Bank, London sends a payment request to Fuji Bank Limited, London, in cover of the documentary
credit.
VE

Information Flow
T
EX
N

SWIFT Message

Explanation Format

Sender MIDLGB22

Message Type 202

19 September 2008 219

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Receiver FUJIGB2L

Message Text

Transaction Reference Number :20:DC86411891

Related Reference :21:PT93118428

Value Date/Curr. Code/Amount :32A:031105GBP38078,

Beneficiary Institution :58A:FUJIJPJS

End of Message Text/Trailer

N
IO
RS
VE
T
EX
N

220 Message Reference Guide

 Part 2 Guarantees

Part 2

Guarantees

N
IO
RS
VE
T
EX
N

19 September 2008 221

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Guarantee Message Types

The following table lists all Guarantee message types defined in Category 7.

For each message type, there is a short description, an indicator whether the message type requires
authentication (Y or N), the maximum message length for input (2,000 or 10,000 characters) and whether the
use of the message requires registration with SWIFT for use in a message user group (Y or N).

MT MT Name Purpose Authen. Max. MUG

Length

760 Guarantee / Standby Issues or requests the issue of a Y 10,000 N

Letter of Credit guarantee or standby letter of credit

767 Guarantee / Standby Amends a guarantee or standby Y 10,000 N

Letter of Credit letter of credit which has been

N
Amendment previously issued or requests the
amendment of a guarantee which
the Sender has previously

IO
requested to be issued

768 Acknowledgement of Acknowledges the receipt of a Y 2,000 N

a Guarantee / Standby guarantee or standby letter of credit
Message RS
message and may indicate that
action has been taken according to
instructions

769 Advice of Reduction or Advises that a bank has been Y 2,000 N

VE
Release released of its liability for a specified
amount under its guarantee or
standby letter of credit

Note: A Message User Group (MUG), for the purposes of this book, is a group of users who have
T

voluntarily agreed to support the specified message type and have registered with SWIFT to send or
receive the specified message type. These messages are indicated in the preceding table in the
column MUG.
EX

Registration is free of charge. To register to use one or more message types, submit a registration
request (Register to a Message User Group) through www.swift.com. To withdraw from a MUG,
use the Deregister from a Message User Group request.
These forms are available on www.swift.com > Ordering & Support > Ordering & Configuration >
Order products & services.
N

To get the list of other members of a particular MUG, send an MT 999 to the Customer
Implementation team (SWHQBEBBCOS).

222 Message Reference Guide

 MT 760 Guarantee / Standby Letter of Credit

MT 760 Guarantee / Standby Letter of Credit

MT 760 Scope
This message is sent between banks involved in the issuance of a guarantee.

It is used to issue a guarantee or to request the Receiver to issue a guarantee.

This message may also be used for Standby Letters of Credit.

MT 760 Format Specifications

MT 760 Guarantee / Standby Letter of Credit

N
Status Tag Field Name Content/Options No.

M 27 Sequence of Total 1!n/1!n 1

IO
M 20 Transaction Reference Number 16x 2

M 23 Further Identification 16x 3

M
30

40C
Date

Applicable Rules
RS 6!n

4!a[/35x]
4

M 77C Details of Guarantee 150*65x 6

VE

O 72 Sender to Receiver Information 6*35x 7

M = Mandatory, O = Optional
T

MT 760 Network Validated Rules

EX

There are no network validated rules for this message type.

MT 760 Usage Rules

• Any applicable rules must be indicated in field 40C. If no rules are applicable, this must also be indicated
N

(code "NONE"). If the guarantee is subject to rules other than URDG (Uniform Rules for Demand
Guarantees, International Chamber of Commerce, Paris, France) or ISP (International Standby Practices,
International Chamber of Commerce, Paris, France) it must be indicated in field 40C using the code
OTHR.

• The definition of this message type does not specify any characteristics or underlying agreements of the
actual guarantee. Therefore, all specific terms, conditions and details of the guarantee are to be specified
in field 77C.

• Since a SWIFT message is restricted to the maximum input message length, more than one MT 760 may
be required to accommodate all the details of the guarantee.

19 September 2008 223

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 760 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

PRESENCE

Mandatory

DEFINITION

This field specifies the number of this message in the series of messages sent for a guarantee, and the total

N
number of messages in the series.

IO
2. Field 20: Transaction Reference Number
FORMAT

16x
RS
PRESENCE
VE
Mandatory

DEFINITION

When the message is sent to issue a guarantee, this field must specify the guarantee number.
T

When the message is sent to request the Receiver to issue a guarantee, this field must contain the reference
of the request, as assigned by the Sender.
EX

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).
N

3. Field 23: Further Identification

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field further identifies the purpose of the message.

224 Message Reference Guide

 MT 760 Guarantee / Standby Letter of Credit

CODES

One of the following codes must be used:

ISSUE The message is an issue of a guarantee.

REQUEST The message is requesting the issuance of a guarantee.

4. Field 30: Date

FORMAT

6!n (Date)

PRESENCE

N
Optional

IO
DEFINITION

When the message is sent to issue a guarantee, this field specifies the issue date of the guarantee.

When the message is sent to request the Receiver to issue a guarantee, this field specifies the date of the
RS
request.

NETWORK VALIDATED RULES

VE

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

In the absence of this field, the issue date or request date is the date on which the message was sent.
T

5. Field 40C: Applicable Rules

EX

FORMAT

Option C 4!a[/35x] (Type)(Narrative)

N

PRESENCE

Mandatory

DEFINITION

This field specifies the rules the guarantee is subject to. Unless otherwise specified in field 77C, it is also the
rules the counter-guarantee is subject to.

CODES

Type must contain one of the following codes (Error code(s): T60):

ISPR The guarantee is subject to International Standby Practices.

NONE The guarantee is not subject to any rules.

19 September 2008 225

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

OTHR The guarantee is subject to another set of rules, which must be specified in Narrative (2nd
subfield).

URDG The guarantee is subject to the ICC Uniform Rules for Demand Guarantees.

NETWORK VALIDATED RULES

Subfield 2 of field 40C, that is "/"35x, is only allowed when subfield 1 of this field consists of OTHR (Error
code(s): D81).

USAGE RULES

Unless otherwise specified, the applicable version of the rules (International Standby Practices/Uniform Rules
for Demand Guarantees, International Chamber of Commerce, Paris, France) is the one which is in effect on
the date of the issue.

If the code OTHR is used, the applicable rule should be mentioned in the narrative field.

N
6. Field 77C: Details of Guarantee

IO
FORMAT

Option C 150*65x RS (Narrative)

PRESENCE

Mandatory
VE

DEFINITION

This field contains all terms, conditions and details of the guarantee.
T

7. Field 72: Sender to Receiver Information

EX

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:
N

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

Optional

DEFINITION

This field contains additional information for the Receiver.

226 Message Reference Guide

 MT 760 Guarantee / Standby Letter of Credit

CODES

One or more of the following codes may be used:

BENCON The Receiver is requested to advise the beneficiary's acceptance or non-acceptance

of the terms and conditions contained in the guarantee.

PHONBEN Please advise/contact the beneficiary by phone.

TELEBEN Please advise/contact the beneficiary by the most efficient means of

telecommunication.

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in

N
the field.

IO
MT 760 Examples
Narrative
RS
Video, Inc, San Francisco, has signed a contract with Sound and Image Productions, London, regarding the
production of the film The Video Story.

The contract is in US Dollars.

VE

Video, Inc. banks with Swiss Bank Corporation, San Francisco.

Sound and Image Productions banks with National Westminster Bank Plc., London.

On 1 May 2002, National Westminster Bank Plc, London, issues a guarantee in favour of Video, Inc., and
advises Swiss Bank Corporation, San Francisco.
T

The content of the guarantee is as follows:

EX

Issue of Performance Guarantee no. PG8761234

We, National Westminster Bank, London, hereby undertake to pay to you any sum or sums not exceeding an
aggregate of USD 27,240 (United States Dollars twenty seven thousand two hundred and forty), representing
N

5% of the total order/contract price on receipt by us at this office of your first demand on us in writing,
complying with all the requirements hereof, quoting our reference overseas division guarantee No.
PG8761234. The signatures appearing thereon to be duly confirmed by your bankers, stating the amount
payable and that Sound and Image have failed to perform the terms of the order/contract No. S556VSF for the
supply of a film The Video Story.

Always provided that

1. This undertaking is personal to you and is not assignable.

2. Our liability hereunder shall be limited to a sum or sums not exceeding in aggregate USD 27,240 (United
States Dollars twenty seven thousand two hundred and forty).

3. Our liability is valid as at 1 June 2002 and shall expire on 31 May 2003 except in respect of any written
demands for payment complying with all the requirements hereof received by us at this office on or before
31 May 2003, after which date this undertaking shall become null and void whether returned to us or not.

4. Our liability under this undertaking shall be reduced by any amounts demanded in accordance with the
terms hereof.

19 September 2008 227

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

5. This undertaking shall be governed by and construed according to the Laws of England, the Courts of
which country shall have sole jurisdiction to adjudicate on any and all claims directly or indirectly relating
hereto and your acceptance of our undertaking shall be your confirmation that you submit to the jurisdiction
of the Courts of England in this regard.

Information Flow

N
IO
RS
VE

SWIFT Message

* Format
T

1 NWBKGB2L
EX

2 760

3 SBCOUS66

Message Text
N

4 :27:1/1

5 :20:PG8761234

6 :23:ISSUE

7 :30:020501

8 :40C:NONE

228 Message Reference Guide

 MT 760 Guarantee / Standby Letter of Credit

* Format

9 :77C:WE, NATIONAL WESTMINSTER BANK, LONDON, HEREBY UNDERTAKE TO PAY TO YOU

ANY SUM OR SUMS NOT EXCEEDING AN AGGREGATE OF USD
27,240,UNITED STATES DOLLARS TWENTY SEVEN THOUSAND TWO HUNDRED AND FORTY),
REPRESENTING 5 PCT OF THE TOTAL ORDER/CONTRACT PRICE ON RECEIPT BY US AT
THIS OFFICE OF YOUR FIRST DEMAND ON US IN WRITING, COMPLYING WITH ALL THE
REQUIREMENTS HEREOF, QUOTING OUR REFERENCE OVERSEAS DIVISION GUARANTEE NO.
PG8761234. THE SIGNATURES APPEARING THEREON TO BE DULY CONFIRMED BY YOUR
BANKERS, STATING THE AMOUNT PAYABLE AND THAT SOUND AND IMAGE HAVE FAILED TO
PERFORM THE TERMS OF THE ORDER/CONTRACT NO. S556VSF FOR THE SUPPLY OF A FILM
THE VIDEO STORY
ALWAYS PROVIDED THAT

1. THIS UNDERTAKING IS PERSONAL TO YOU AND IS NOT ASSIGNABLE.

2. OUR LIABILITY HEREUNDER SHALL BE LIMITED TO A SUM OR SUMS NOT EXCEEDING

N
IN AGGREGATE USD 27,240 (UNITED STATES DOLLARS TWENTY SEVEN THOUSAND TWO
HUNDRED AND FORTY).

3. OUR LIABILITY IS VALID AS AT 1 JUNE 2002 AND SHALL EXPIRE ON 31 MAY 2003

IO
EXCEPT IN RESPECT OF ANY WRITTEN DEMANDS FOR PAYMENT COMPLYING WITH ALL
THE REQUIREMENTS HEREOF RECEIVED BY US AT THIS OFFICE ON OR BEFORE 31 MAY
1993, AFTER WHICH DATE THIS UNDERTAKING SHALL BECOME NULL AND VOID
WHETHER RETURNED TO US OR NOT.
RS
4. OUR LIABILITY UNDER THIS UNDERTAKING SHALL BE REDUCED BY ANY AMOUNTS
DEMANDED IN ACCORDANCE WITH THE TERMS HEREOF.

5. THIS UNDERTAKING SHALL BE GOVERNED BY AND CONSTRUED ACCORDING TO THE LAWS

VE

OF ENGLAND, THE COURTS OF WHICH COUNTRY SHALL HAVE SOLE JURISDICTION TO

ADJUDICATE ON ANY AND ALL CLAIMS DIRECTLY OR INDIRECTLY RELATING HERETO
AND YOUR ACCEPTANCE OF OUR UNDERTAKING SHALL BE YOUR CONFIRMATION THAT
YOU SUBMIT TO THE JURISDICTION OF THE COURTS OF ENGLAND IN THIS REGARD.
T

End of Message Text/Trailer

EX

1. Sender of the message

2. Message type
N

3. Receiver of the message

4. Sequence of total (1 of 1 page)

5. Transaction Reference Number

6. Further Identification (ISSUE of a guarantee)

7. Date of issue

8. Applicable rules

9. Terms and conditions of the guarantee

19 September 2008 229

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 767 Guarantee / Standby Letter of Credit

Amendment

MT 767 Scope
This message is sent by a bank which has issued a guarantee to the bank to which the guarantee was issued.
It may also be sent by a bank which has requested the issuance of a guarantee to the bank to which the
request for a guarantee was sent.

It is used to amend or request the amendment of the guarantee.

This message may also be used for Standby Letters of Credit.

N
MT 767 Format Specifications

IO
MT 767 Guarantee / Standby Letter of Credit Amendment
Status Tag Field Name Content/Options No.

M 27 Sequence of Total 1!n/1!n 1

M 20
RS
Transaction Reference Number 16x 2

M 21 Related Reference 16x 3

M 23 Further Identification 16x 4

VE

O 30 Date 6!n 5

O 26E Number of Amendment 2n 6

M 31C Date of Issue or Request to Issue 6!n 7

T

M 77C Amendment Details 150*65x 8

EX

O 72 Sender to Receiver Information 6*35x 9

M = Mandatory, O = Optional
N

MT 767 Network Validated Rules

There are no network validated rules for this message type.

MT 767 Usage Rules

• The guarantee amendment is to be considered as part of the guarantee.

• The terms and conditions of the original guarantee or instruction(s) not mentioned in the message remain
the same.

• The cancellation of a guarantee, that is, MT 760, takes the form of an amendment. The MT 767 must
therefore be used.

• Since a SWIFT message is restricted to the maximum input message length, more than one MT 767 may
need be required to accommodate all the details of the guarantee amendment.

230 Message Reference Guide

 MT 767 Guarantee / Standby Letter of Credit Amendment

MT 767 Field Specifications

1. Field 27: Sequence of Total
FORMAT

1!n/1!n (Number)(Total)

PRESENCE

Mandatory

DEFINITION

This field specifies the number of this message in the series of messages sent for a guarantee, and the total

N
number of messages in the series.

IO
2. Field 20: Transaction Reference Number
FORMAT

16x
RS
PRESENCE
VE
Mandatory

DEFINITION

This field contains a reference assigned by the Sender to unambiguously identify the message.
T

NETWORK VALIDATED RULES

EX

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

3. Field 21: Related Reference

N

FORMAT

16x

PRESENCE

Mandatory

DEFINITION

If the Receiver of this message has previously sent an MT 768 Acknowledgement of a Guarantee Message or
its equivalent, this field contains the contents of field 20 Transaction Reference Number of the
acknowledgement.

If no acknowledgement has been previously received, this field will contain a reference which is meaningful to
the Receiver, for example, the guarantee number.

19 September 2008 231

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If no meaningful reference is available, the code NONREF must be used.

4. Field 23: Further Identification

FORMAT

16x

PRESENCE

N
Mandatory

IO
DEFINITION

This field further identifies the purpose of the message.

CODES
RS
One of the following codes must be used:
VE

ISSUE The message is an amendment to a guarantee which the Sender previously issued.

REQUEST The message is requesting the amendment to a guarantee which the Sender
previously requested to be issued.
T

5. Field 30: Date

EX

FORMAT

6!n (Date)

PRESENCE
N

Optional

DEFINITION

When the message is sent to amend a guarantee, this field specifies the date of the amendment.

When the message is sent to request the Receiver to amend a guarantee, this field specifies the date of the
request for the amendment.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

232 Message Reference Guide

 MT 767 Guarantee / Standby Letter of Credit Amendment

USAGE RULES

In the absence of this field, the amendment date or request for amendment date of the guarantee is the date
on which this MT 767 was sent.

6. Field 26E: Number of Amendment

FORMAT

Option E 2n (Number)

PRESENCE

Optional

DEFINITION

N
This field specifies the number which identifies this amendment.

IO
USAGE RULES

This number should be the latest in the series of all amendments made, regardless of the means by which
previous amendments were sent. RS
7. Field 31C: Date of Issue or Request to Issue
VE
FORMAT

Option C 6!n (Date)

PRESENCE
T

Mandatory
EX

DEFINITION

When the message is sent to amend a guarantee, this field must specify the original issue date of the
guarantee.
N

When the message is sent to request the Receiver to amend a guarantee, this field must specify the original
date of the request to issue the guarantee.

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

8. Field 77C: Amendment Details

FORMAT

Option C 150*65x (Narrative)

19 September 2008 233

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

PRESENCE

Mandatory

DEFINITION

This field specifies all amended terms, conditions and details of the guarantee.

CODES

The following code may be used:

CANCEL The guarantee is cancelled for the unutilized portion.

USAGE RULES

N
The terms and conditions of the original guarantee which are not mentioned in this field, remain the same.

9. Field 72: Sender to Receiver Information

IO
FORMAT

6*35x (Narrative)
RS
In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

VE

Lines 2-6 [//continuation of additional

information]
or
[/8c/[additional information]]
T

PRESENCE
EX

Optional

DEFINITION

This field contains additional information for the Receiver.

N

CODES

One or more of the following codes may be used:

BENCON The Receiver is requested to advise the beneficiary's acceptance or non-acceptance

of the terms and conditions contained in the guarantee.

PHONBEN Please advise/contact the beneficiary by phone.

TELEBEN Please advise/contact the beneficiary by the most efficient means of

telecommunication.

USAGE RULES

Any code must be between slashes and must appear at the beginning of a line.

234 Message Reference Guide

 MT 767 Guarantee / Standby Letter of Credit Amendment

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 767 Examples
Narrative

On 15 May 2002, National Westminster Bank, London, sends Swiss Bank Corporation, San Francisco, an
amendment (reference AG5559823) to its issue of Performance Guarantee No. PG8761234.

(To review the guarantee, see the Example section of the MT 760.)

The amendment states:

"We hereby advise you of the amendments made to the referenced performance guarantee.

N
Our liability is valid as at 1 July 2002 and shall expire on 30 June 2003.

All other terms and conditions remain unchanged as agreed upon in the initial issue of this guarantee.

IO
Please confirm the beneficiary's acceptance of this amendment."

Information Flow
RS
VE
T
EX
N

SWIFT Message

Explanation Format

Sender NWBKGB2L

Message Type 767

Receiver SBCOUS66

19 September 2008 235

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Explanation Format

Message Text

Sequence of Total :27:1/1

TRN :20:AG5559823

Related Ref (1) :21:PG8761234

Further ID (2) :23:ISSUE

Date of Issue :31C:020501

Amendment Details :77C:WE HEREBY ADVISE YOU OF AMENDMENTS

MADE TO THE REFERENCED PERFORMANCE
GUARANTEE. OUR LIABILITY IS VALID AS AT 1
JULY 2002 AND SHALL EXPIRE ON 30 JUNE 2003.

N
S to R Info (3) :72:/BENCON/

IO
End of Message Text/Trailer

(1) The reference meaningful to the Receiver, which is the reference initially assigned to the issue of the
guarantee.
(2) Further identification of the purpose of the message - this message is an amendment to a guarantee
RS
originally issued by the Sender.
(3) The Sender is requesting that the beneficiary confirm acceptance of the terms of the amendment.
VE
T
EX
N

236 Message Reference Guide

 MT 768 Acknowledgement of a Guarantee / Standby Message

MT 768 Acknowledgement of a Guarantee / Standby

Message

MT 768 Scope
This message type is sent by a bank which has received a guarantee to the bank which issued the guarantee
or an amendment thereto. It may also be sent by a bank which has been requested to issue a guarantee to
the bank which requested the guarantee or an amendment thereto.

It is used to acknowledge receipt of any message relating to a guarantee and, where applicable, to indicate
that action has been taken according to the instructions.

This message may also be used for Standby Letters of Credit.

N
The Sender's charges may also be accounted for in this message.

IO
MT 768 Format Specifications
MT 768 Acknowledgement of a Guarantee / Standby Message
Status

M
Tag

20
RS Field Name

Transaction Reference Number 16x

Content/Options No.

M 21 Related Reference 16x 2

VE

O 25 Account Identification 35x 3

M 30 Date of Message Being Acknowledged 6!n 4

O 32a Amount of Charges B or D 5

T

O 57a Account With Bank A, B, or D 6

O 71B Details of Charges 6*35x 7

EX

O 72 Sender to Receiver Information 6*35x 8

M = Mandatory, O = Optional
N

MT 768 Network Validated Rules

C1 Either field 25 or 57a, but not both, may be present (Error code(s): C77).

C2 If field 32D is present, field 57a must not be present (Error code(s): C78).

C3 If field 71B is present, field 32a must also be present (Error code(s): C33).

19 September 2008 237

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 768 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

N
NETWORK VALIDATED RULES

IO
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference RS

FORMAT
VE
16x

PRESENCE

Mandatory
T

DEFINITION
EX

This field contains the reference of the message which is being acknowledged.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
N

T26).

USAGE RULES

If the related message was not sent via SWIFT, this field contains a reference which is meaningful to the
Receiver.

If no such reference is available, this field must contain the code NONREF.

3. Field 25: Account Identification

FORMAT

35x (Account)

238 Message Reference Guide

 MT 768 Acknowledgement of a Guarantee / Standby Message

PRESENCE

Conditional (see rule C1)

DEFINITION

This field identifies, where necessary, the account which is used for settlement of charges.

USAGE RULES

The absence of fields 25 and 57a means that the account relationship between the Sender and the Receiver
in the currency of the charges is to be used for settlement.

4. Field 30: Date of Message Being Acknowledged

FORMAT

N
6!n (Date)

IO
PRESENCE

Mandatory

DEFINITION
RS
This field specifies the date on which the message being acknowledged was sent.
VE

NETWORK VALIDATED RULES

Date must be a valid date expressed as YYMMDD (Error code(s): T50).

5. Field 32a: Amount of Charges

T

FORMAT
EX

Option B 3!a15d (Currency)(Amount)

Option D 6!n3!a15d (Date)(Currency)(Amount)
N

PRESENCE

Conditional (see rule C3)

DEFINITION

This field specifies the currency code and total amount of charges claimed by the Sender of the message.

NETWORK VALIDATED RULES

In option D, Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

19 September 2008 239

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

USAGE RULES

If the Sender services an account for the Receiver in the currency of the charges, and this account has been
debited in reimbursement, Option D must be used, specifying the value date of the debit.

In all other cases, Option B must be used.

6. Field 57a: Account With Bank

FORMAT

Option A [/1!a][/34x] (Party Identifier)

4!a2!a2!c[3!c] (Identifier Code)
Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)

N
4*35x (Name & Address)

IO
PRESENCE

Conditional (see rules C1 and C2)

DEFINITION
RS
This field specifies the bank at which the Sender wishes to receive credit for charges claimed in field 32a.
VE
NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including
T

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).
EX

7. Field 71B: Details of Charges

FORMAT
N

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

PRESENCE

Optional

DEFINITION

This field contains the specific details of commission and charges claimed by the Sender in field 32a.

240 Message Reference Guide

 MT 768 Acknowledgement of a Guarantee / Standby Message

CODES

One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

DISC Commercial discount

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

TELECHAR Teletransmission charges

N
WAREHOUS Wharfing and warehouse

IO
USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.
RS
Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

8. Field 72: Sender to Receiver Information

VE

FORMAT

6*35x (Narrative)
T

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

EX

Lines 2-6 [//continuation of additional

information]
or
[/8c/[additional information]]
N

PRESENCE

Optional

DEFINITION

This field contains additional information for the Receiver.

CODES

One of the following codes may be used.

BENACC The beneficiary has accepted the amendment of the guarantee.

BENREJ The beneficiary has rejected the amendment of the guarantee.

19 September 2008 241

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

USAGE RULES

This field may be used to advise the beneficiary's acceptance or non-acceptance of the terms and conditions
of a guarantee or an amendment thereof.

This field may include ERI, as specified in the chapter entitled "Euro - Impact on SWIFT Message Standards".

The structured line format may be used for bilaterally agreed codes.

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

MT 768 Examples

N
Example 1: Acknowledgement of a Guarantee Message

IO
Narrative

On 20 May 2002, Swiss Bank Corporation, San Francisco, acknowledges to National Westminster Bank Plc,
London (reference 1PG8761234), receipt of the amendment to the issue of Performance Guarantee No.
PG8761234, as well as the beneficiary's acceptance of the amendment.
RS
(To review the guarantee amendment for this example, see the Example section of the MT 767.)

Information Flow
VE
T
EX
N

242 Message Reference Guide

 MT 768 Acknowledgement of a Guarantee / Standby Message

SWIFT Message

Explanation Format

Sender SBCOUS66

Message Type 768

Receiver NWBKGB2L

Message Text

TRN :20:1PG8761234

Related Ref (1) :21:AG5559823

Date of Msg (2) :30:020515

S to R Info (3)

N
:72:AMENDMENTS HAVE BEEN ACCEPTED BY
BENEFICIARY

End of Message Text/Trailer

IO
(1) The reference of the message being acknowledged.
(2) Date of the message being acknowledged.
(3) Sender to receiver information, indicating beneficiary acceptance of the amendment.
RS
Example 2: Guarantee
VE
Narrative

Shining Star Jewellers, New York, has signed a contract with Fine Gems Company, Antwerp, covering the
purchase of 1,000 carats of quality diamonds.

The contract is in Belgian Francs.

T

Shining Star Jewellers banks with Bank Leumi Trust Co. of New York.
EX

Fine Gems Company banks with Kredietbank, N.V., Antwerp.

On 10 February 2003, Bank Leumi Trust Co. of New York issues a guarantee in favour of Fine Gems
Company, and advises Kredietbank, N.V., Antwerp.
N

The content of the guarantee is as follows:

Issue of Performance Guarantee No. PG378556

We, Bank Leumi Trust Company of NY, New York, hereby undertake to pay to Fine Gems Company, Antwerp,
any sum or sums not exceeding an aggregate of EUR 20,000,000 (Euro twenty million), representing the
purchase of 1000 VVVF diamonds, on receipt by us at this office of your first demand on us in writing,
complying with all the requirements hereof, quoting our reference Performance Guarantee No. PG378556.
The signatures appearing thereon to be duly confirmed by your bankers.

Always provided that:

• This undertaking is personal to you and is not assignable.

• Our liability hereunder shall be limited to a sum or sums not exceeding in aggregate EUR 20,000,000
(Euro twenty million)

19 September 2008 243

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

• Our liability is valid as at 10 February 2003 and shall expire on 10 April 2003 after which date this
undertaking shall become null and void.

• This undertaking shall be governed by and construed according to the Laws of the State of New York,
U.S.A., which shall have sole jurisdiction to adjudicate on any and all claims directly or indirectly relating
hereto and your acceptance of our undertaking shall be your confirmation that you submit to the jurisdiction
of the Courts of the State of New York.

Information Flow

N
IO
RS
VE

SWIFT Message MT 760

T

* Format
EX

1 LUMIUS3N

2 760

3 KREDBE22
N

4 :27:1/1

Message Text

5 :20:PG378556

6 :23:ISSUE

7 :30:030210

244 Message Reference Guide

 MT 768 Acknowledgement of a Guarantee / Standby Message

* Format

8 :77C:WE, BANK LEUMI TRUST COMPANY OF NY, NEW YORK, HEREBY UNDERTAKE TO PAY
TO FINE GEMS COMPANY, ANTWERP, ANY SUM OR SUMS NOT EXCEEDING AN AGGREGATE OF
EUR 20,000,000 (EURO TWENTY MILLION), REPRESENTING THE PURCHASE OF 1000 VVVF
DIAMONDS, ON RECEIPT BY US AT THIS OFFICE OF YOUR FIRST DEMAND ON US IN
WRITING, COMPLYING WITH ALL THE REQUIREMENTS HEREOF, QUOTING OUR REFERENCE
PERFORMANCE GUARANTEE NO. PG378556. THE SIGNATURES APPEARING THEREON TO BE
DULY CONFIRMED BY YOUR BANKERS.
ALWAYS PROVIDED THAT:

1. THIS UNDERTAKING IS PERSONAL TO YOU AND IS NOT ASSIGNABLE.

2. OUR LIABILITY HEREUNDER SHALL BE LIMITED TO A SUM OR SUMS NOT EXCEEDING

IN AGGREGATE EUR 20,000,000 (EURO TWENTY MILLION).

3. OUR LIABILITY IS VALID AS AT 10 FEBRUARY 2003 AND SHALL EXPIRE ON 10

N
APRIL 2003 AFTER WHICH DATE THIS UNDERTAKING SHALL BECOME NULL AND VOID.

4. THIS UNDERTAKING SHALL BE GOVERNED BY AND CONSTRUED.

IO
5. ACCORDING TO THE LAWS OF THE STATE OF NEW YORK, USA, WHICH SHALL HAVE
SOLE JURISDICTION TO ADJUDICATE ON ANY AND ALL CLAIMS DIRECTLY OR
INDIRECTLY RELATING HERETO AND YOUR ACCEPTANCE OF OUR UNDERTAKING SHALL
BE YOUR CONFIRMATION THAT YOU SUBMIT TO THE JURISDICTION OF THE COURTS OF
RS
THE STATE OF NEW YORK.

End of Message Text/Trailer

* 1. Sender of the message

VE

2. Message Type/Priority
3. Receiver of the message
4. Sequence of Total
5. Transaction Reference Number
6. Further Identification (ISSUE of a Guarantee)
7. Date of Issue
T

8. Terms and conditions of the Guarantee

EX

Example 3: Acknowledgement of a Guarantee Message

Narrative
N

On 11 February 2003, Kredietbank forwards the guarantee to its customer, Fine Gems Company. On
acceptance of the terms of the guarantee by Fine Gems, Kredietbank acknowledges to Bank Leumi and
requests that its advising commission of EUR 4,000 be paid to its account at Kredietbank's main office in
Brussels.

19 September 2008 245

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Information Flow

N
IO
RS
SWIFT Message
VE

Explanation Format

Sender KREDBE22

Message Type 768

T

Receiver LUMIUS3N
EX

Message Text

TRN :20:GA7326

Related Ref (1) :21:PG378556

N

Date of Msg (2) :30:030210

Amt of Charges :32B:EUR4000,

Acct With Bank :57A:KREDBEBB

S to R Info (3) :72:BENEFICIARY RECD AND ACCEPTED THE TERMS

AND CONDITIONS OF GUARANTEE

End of Message Text/Trailer

(1) The reference of the message being acknowledged.

(2) Date of the message being acknowledged.
(3) Sender to receiver information, indicating beneficiary acceptance of the terms and conditions of the
guarantee.

246 Message Reference Guide

 MT 769 Advice of Reduction or Release

MT 769 Advice of Reduction or Release

MT 769 Scope
This message is sent by a bank which has received a guarantee to the bank which has issued the guarantee.
It may also be sent by a bank which has been requested to issue a guarantee to the bank which requested the
issuance of the guarantee.

This message may also be used for Standby Letters of Credit.

It is used to advise the Receiver that it has been released of all liability for the amount specified in field 33B or
field 39C.

The Sender's charges may also be accounted for in this message.

N
MT 769 Format Specifications

IO
MT 769 Advice of Reduction or Release
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number

RS 16x 1

M 21 Related Reference 16x 2

O 25 Account Identification 35x 3

VE

O 30 Date of Reduction or Release 6!n 4

O 32a Amount of Charges B or D 5

O 33B Amount Reduced or Released 3!a15d 6

T

O 34B Amount Outstanding 3!a15d 7

O 39C Amount Specification 4*35x 8

EX

O 57a Account With Bank A, B, or D 9

O 71B Details of Charges 6*35x 10

O 72 Sender to Receiver Information 6*35x 11

N

M = Mandatory, O = Optional

MT 769 Network Validated Rules

C1 Either field 25 or 57a, but not both, may be present (Error code(s): C77).

C2 Either field 33B or field 39C, but not both, must be present (Error code(s): C34).

C3 If field 32D is present, then field 57a must not be present (Error code(s): C78).

C4 If field 71B is present, then field 32a must also be present (Error code(s): C33).

C5 The currency code in the amount fields 33B and 34B must be the same (Error code(s): C02).

19 September 2008 247

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 769 Field Specifications

1. Field 20: Transaction Reference Number
FORMAT

16x

PRESENCE

Mandatory

DEFINITION

This field contains the reference assigned by the Sender to unambiguously identify the message.

N
NETWORK VALIDATED RULES

IO
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

2. Field 21: Related Reference RS

FORMAT
VE
16x

PRESENCE

Mandatory
T

DEFINITION
EX

This field contains the reference number of the guarantee or request for the issuance of a guarantee to which
this message is related.

NETWORK VALIDATED RULES

N

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

USAGE RULES

If the related message was not sent via SWIFT, this field contains a reference which is meaningful to the
Receiver.

3. Field 25: Account Identification

FORMAT

35x (Account)

248 Message Reference Guide

 MT 769 Advice of Reduction or Release

PRESENCE

Conditional (see rule C1)

DEFINITION

When the Sender has debited the account of the Receiver for its charges, that is, field 32D is used, this field
identifies the number of the account which has been debited.

4. Field 30: Date of Reduction or Release

FORMAT

6!n (Date)

PRESENCE

N
Optional

IO
DEFINITION

This field specifies the date as of which the bank which has issued or requested the issuance of the
guarantee, that is, the Receiver, is released of all its liability under the specified guarantee for the amount
RS
specified in field 33B or 39C.

NETWORK VALIDATED RULES

VE
Date must contain a valid date expressed as YYMMDD (Error code(s): T50).

USAGE RULES

The absence of this field implies that the bank which has issued or requested the issuance of the guarantee is
released of all its liability as of the date the message was sent.
T

5. Field 32a: Amount of Charges

EX

FORMAT

Option B 3!a15d (Currency)(Amount)

N

Option D 6!n3!a15d (Date)(Currency)(Amount)

PRESENCE

Conditional (see rule C4)

DEFINITION

This field specifies the currency code and total amount of charges claimed by the Sender of the message.

NETWORK VALIDATED RULES

In option D, Date must be a valid date expressed as YYMMDD (Error code(s): T50).

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

19 September 2008 249

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

USAGE RULES

If the Sender services an account for the Receiver in the currency of the charges, and this account has been
debited in reimbursement, Option D must be used, specifying the value date of the debit.

In all other cases, Option B must be used.

6. Field 33B: Amount Reduced or Released

FORMAT

Option B 3!a15d (Currency)(Amount)

N
PRESENCE

IO
Conditional (see rule C2)

DEFINITION
RS
This field specifies the currency code and amount for which the bank which has issued or requested the
issuance of the guarantee is released of all its liability under the specified guarantee.

NETWORK VALIDATED RULES

VE

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).
T

Currency in fields 33B and 34B must be the same (Error code(s): C02).
EX

USAGE RULES

Where the amount of the guarantee and, consequently, the amount released, cannot be expressed in terms of
a specific amount, field 39C must be used instead of field 33B.
N

7. Field 34B: Amount Outstanding

FORMAT

Option B 3!a15d (Currency)(Amount)

PRESENCE

Optional

DEFINITION

When the liability under the specified guarantee is not to be released in its entirety, this field specifies the
currency code and amount outstanding.

250 Message Reference Guide

 MT 769 Advice of Reduction or Release

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code (Error code(s): T52).

The integer part of Amount must contain at least one digit. The decimal comma ',' is mandatory and is
included in the maximum length. The number of digits following the comma must not exceed the maximum
number allowed for the specified currency (Error code(s): C03,T40,T43).

Currency in fields 33B and 34B must be the same (Error code(s): C02).

8. Field 39C: Amount Specification

FORMAT

Option C 4*35x (Narrative)

N
PRESENCE

Conditional (see rule C2)

IO
DEFINITION

This field contains a description of the amount for which the bank which has issued or requested the issuance
RS
of the guarantee is released of all its liability under the specified guarantee.

USAGE RULES
VE
This field must be used in those instances where the amount of the guarantee and, consequently, the amount
released, cannot be expressed in terms of a specific amount.

9. Field 57a: Account With Bank

T

FORMAT

Option A [/1!a][/34x] (Party Identifier)

EX

4!a2!a2!c[3!c] (Identifier Code)

Option B [/1!a][/34x] (Party Identifier)
[35x] (Location)
Option D [/1!a][/34x] (Party Identifier)
N

4*35x (Name & Address)

PRESENCE

Conditional (see rules C1 and C3)

DEFINITION

This field specifies the bank at which the Sender wishes to receive credit for charges claimed in field 32a.

NETWORK VALIDATED RULES

Identifier Code must be a registered BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must not be a BEI. See the latest version of the BIC Directory - Corporations for more
information about BEIs. This error code applies to all types of BICs referenced in a FIN message including

19 September 2008 251

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error
code(s): C05).

10. Field 71B: Details of Charges

FORMAT

Option B 6*35x (Narrative)

In addition to narrative text, the following line formats may be used:

Line 1 /8a/[3!a13d][additional (Code)(Currency)(Amount)(Narrative)

information]
Lines 2-6 [//continuation of additional
information]

N
PRESENCE

IO
Optional

DEFINITION
RS
This field contains the specific details of commission and charges claimed by the Sender in field 32a.

CODES
VE
One or more of the following codes may be used, followed by the currency code and amount:

AGENT Agent's commission

COMM Our commission

CORCOM Our correspondent's commission

T

DISC Commercial discount

EX

INSUR Insurance premium

POST Our postage

STAMP Stamp duty

N

TELECHAR Teletransmission charges

WAREHOUS Wharfing and warehouse

USAGE RULES

Any code used in this field must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.

252 Message Reference Guide

 MT 769 Advice of Reduction or Release

11. Field 72: Sender to Receiver Information

FORMAT

6*35x (Narrative)

In addition to narrative text, structured text with the following line formats may be used:

Line 1 /8c/[additional information]

Lines 2-6 [//continuation of additional
information]
or
[/8c/[additional information]]

PRESENCE

N
Optional

IO
DEFINITION

This field contains additional information for the Receiver.

USAGE RULES RS
This field may include ERI, as specified in the chapter entitled "Euro - Impact on SWIFT Message Standards"

The structured line format may be used for bilaterally agreed codes.
VE

Any code must be between slashes and must appear at the beginning of a line.

Narrative text must not begin with a slash and, if used, must begin on a new line and be the last information in
the field.
T

MT 769 Examples
EX

Narrative

On 12 January 2003, Swiss Bank Corporation, San Francisco, advises National Westminster Bank Plc,
London (reference 2PG8761234), that it has been released of all liability for an amount of US Dollars 14,000.
N

The outstanding obligation under the guarantee is US Dollars 13,240.

Swiss Bank Corporation would like to receive payment of its charges of US Dollars 35 (being cable costs of
USD 21 and commission charges of USD 14) at its account at Bank of New York, New York.

(To review the guarantee for this example, see the Example section of the MT 760.)

19 September 2008 253

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Information Flow

N
IO
SWIFT Message

Explanation Format

Sender

Message Type
RS SBCOUS66

769

Receiver NWBKGB2L
VE

Message Text

Transaction Reference Number :20:2PG8761234

Related Reference (1) :21:PG8761234

T

Date of Release :30:030112

EX

Amount of Charges (2) :32B:USD35,

Amount Reduced (3) :33B:USD14000,

Amount Outstanding (4) :34B:USD13240,

N

Account With Bank (5) :57A:BONYUS33

Details of Charges (6) :71B:/TELECHAR/USD21,

/COMM/USD14,

End of Message Text/Trailer

(1) The reference of the guarantee.

(2) The Sender's charges for the transaction.
(3) The amount by which National Westminster Bank's liability has been reduced.
(4) The amount of liability remaining under the guarantee.
(5) The bank (Bank of New York) at which the Sender wishes to receive payment of its charges.
(6) An explanation of the charges specified in field 32B.

254 Message Reference Guide

 Part 3 Common Group

Part 3

Common Group

N
IO
RS
VE
T
EX
N

19 September 2008 255

Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

Common Group Message Types

The following table lists all Common Group message types defined in Category 7.

For each message type, there is a short description, an indicator whether the message type requires
authentication (Y or N), the maximum message length for input (2,000 or 10,000 characters) and whether the
use of the message requires registration with SWIFT for use in a message user group (Y or N).

MT MT Name Purpose Authen Max MUG

Length

790 Advice of Charges, Advises an account owner of Y 2,000 N

Interest and Other charges, interest or other
Adjustments adjustments to its account

791 Request for Payment Requests payment of charges, Y 2,000 N

N
of Charges, Interest interest or other expenses
and Other Expenses

IO
792 Request for Requests the Receiver to consider Y 2,000 N
Cancellation cancellation of the message
identified in the request

795 Queries Requests information relating to a

RS Y 2,000 N
previous message or amendment to
a previous message

796 Answers Responds to a MT 795 Queries Y 2,000 N

VE
message or MT 792 Request for
Cancellation or other messages
where no specific message type has
been provided for the response

798 Proprietary Message Contains formats defined and Y 10,000 N

T

agreed to between users and for

those messages not yet live
EX

799 Free Format Message Contains information for which no Y 10,000 N

other message type has been
defined

Note: A Message User Group (MUG), for the purposes of this book, is a group of users who have
N

voluntarily agreed to support the specified message type and have registered with SWIFT to send or
receive the specified message type. These messages are indicated in the preceding table in the
column MUG.
Registration is free of charge. To register to use one or more message types, submit a registration
request (Register to a Message User Group) through www.swift.com. To withdraw from a MUG,
use the Deregister from a Message User Group request.
These forms are available on www.swift.com > Ordering & Support > Ordering & Configuration >
Order products & services.
To get the list of other members of a particular MUG, send an MT 999 to the Customer
Implementation team (SWHQBEBBCOS).

256 Message Reference Guide

 MT 790 Advice of Charges, Interest and Other Adjustments

MT 790 Advice of Charges, Interest and Other

Adjustments
See Category n - Common Group Messages, Chapter n90 Advice of Charges, Interest and Other Adjustments
for details concerning this message type.

N
IO
RS
VE
T
EX
N

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 791 Request for Payment of Charges, Interest and

Other Expenses
See Category n - Common Group Messages, Chapter n91 Request for Payment of Charges, Interest or Other
Expenses for details concerning this message type.

N
IO
RS
VE
T
EX
N

258 Message Reference Guide

 MT 792 Request for Cancellation

MT 792 Request for Cancellation

See Category n - Common Group Messages, Chapter n92 Request for Cancellation for details concerning this
message type.

N
IO
RS
VE
T
EX
N

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 795 Queries
See Category n - Common Group Messages, Chapter n95 Queries for details concerning this message type.

N
IO
RS
VE
T
EX
N

260 Message Reference Guide

 MT 796 Answers

MT 796 Answers
See Category n - Common Group Messages, Chapter n96 Answers for details concerning this message type.

N
IO
RS
VE
T
EX
N

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

MT 798 Proprietary Message

See Category n - Common Group Messages, Chapter n98 Proprietary Message for details concerning this
message type.

N
IO
RS
VE
T
EX
N

262 Message Reference Guide

 MT 799 Free Format Message

MT 799 Free Format Message

MT 799 Scope
This message type is used by financial institutions to send or receive information for which another message
type is not applicable.

MT 799 Format Specifications

MT 799 Free Format Message
Status Tag Field Name Content/Options No.

M 20 Transaction Reference Number 16x 1

N
O 21 Related Reference 16x 2

----->

IO
M 79 Narrative 35*50x 3

-----|
RS M = Mandatory, O = Optional

MT 799 Network Validated Rules

VE

There are no network validated rules for this message type.

MT 799 Field Specifications

T

1. Field 20: Transaction Reference Number

EX

FORMAT

16x
N

PRESENCE

Mandatory

DEFINITION

This field specifies the reference assigned by the Sender to unambiguously identify the message.

NETWORK VALIDATED RULES

This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

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Category 7 - Documentary Credits and Guarantees for Standards MT November 2008

2. Field 21: Related Reference

FORMAT

16x

PRESENCE

Optional

DEFINITION

This field contains a reference to the related message.

NETWORK VALIDATED RULES

N
This field must not start or end with a slash '/' and must not contain two consecutive slashes '//' (Error code(s):
T26).

IO
3. Field 79: Narrative
FORMAT RS
35*50x (Narrative)

PRESENCE
VE

Mandatory

DEFINITION

This field contains the free format message. This field may be repeated.
T
EX

MT 799 Examples
As any free format information may be provided in this message type, no message examples will be provided.
N

264 Message Reference Guide

 Glossary of Terms

Glossary of Terms
In addition to the definitions which appear in the Glossary of Terms in SWIFTStandards MT General
Information, the following terms apply to category 7 message types.

For any additional definitions or details, see the Uniform Rules for Bank-to-Bank Reimbursements under
documentary credits (URR) and the Uniform Customs and Practice for documentary credits (UCP),
International Chamber of Commerce, Paris, France.

Advising Bank The bank requested to advise the documentary credit.

Advising Instruction An instruction to the Advising Bank regarding confirmation of the

documentary credit.

Amendment Date The date on which an amendment was issued.

N
Amendment Statement A standard phrase linking the amendment to the original documentary
credit.

The total claimed for reimbursement in a documentary credit, optionally

IO
Amount Claimed
followed by the date on which the Claiming Bank requests the amount to
be placed at its disposal.

Applicant The party at whose request a transaction or service is to be undertaken.

RS
Charges Authorisation Issuing Bank's approval to the Reimbursement Bank to honour charges.

Charges Claimed The charges and commissions in addition to a principal amount claimed
under a documentary credit.
VE

Claiming Bank's Reference The reference assigned by the Claiming Bank which unambiguously
Number identifies a particular transaction.

Credit Available by The method by which a documentary credit will be made available.
T

Credit Available With The identification of the nominated bank at which the credit is available.

Draft Details Information pertaining to the draft(s) required under a documentary credit.
EX

Endorsement of Drawings A record of a specific drawing on a documentary credit.

Expiry Date and Place The latest date and place for presentation of documents for payment,
acceptance, or negotiation.
N

Issue Date and Place The date of issue of a documentary credit.

Partial Shipments An incomplete shipment of goods.

Place for presentation Under a credit subject to UCP, this means an address where the paper
documents should be presented. Under a credit subject to eUCP, this
means an electronic address where the electronic records should be
presented.

Presentation Period The period of time after the date of the issuance of the transport document
within which documents must be presented for action.

Shipping Information as to where the goods must be shipped/loaded on board/

dispatched/taken in charge and to which destination they must be
transported.

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Transshipment The shipment of goods between two points other than the original point of
shipment.

Transport Details The method whereby the goods were loaded on board, dispatch and taken
in charge, and to which destination they have been transported.

N
IO
RS
VE
T
EX
N

266 Message Reference Guide