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Wednesday, 18 August 2010

S.W.I.F.T MT 700 Series...

700 Issue of a Documentary Credit

Indicates the terms and conditions of a documentary credit

701 Issue of a Documentary Credit

Continuation of an MT 700 for fields 45a, 46a and 47a

705 Pre-Advice of a Documentary Credit

Provides brief advice of a documentary credit for which full details will follow

707 Amendment to a Documentary Credit

Informs the Receiver of amendments to the terms and conditions of a documentary credit

710 Advice of a Third Bank’s Documentary Credit

Advises the Receiver of the terms and conditions of a documentary credit

711 Advice of a Third Bank’s Documentary Credit

Continuation of an MT 710 for files 45a, 46a and

720 Transfer of a Documentary Credit

Advises the transfer of a documentary credit, or part thereof, to the bank advising the second beneficiary

721 Transfer of a Documentary Credit

Continuation of a MT 720 for files 45a, 46a and 47a

730Acknowledgement

Acknowledges the receipt of a documentary credit message and 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 with discrepancies have been taken up

734 Advice of Refusal

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

740 Authorisation to Reimburse

Requests the Receiver to honour claims for reimbursement of payment(s) or negotiation(s) under a documentary credit

742 Re-imbursement Claim

Provides a reimbursement claim to the bank authorised to reimburse the Sender or its branch for its payments/negotiations

747 Amendment to an Authorization to Reimburse

Informs the reimbursing bank of amendments to the terms and conditions of a documentary credit, relative to the authorization to reimburse

750 Advice of Discrepancy

Advises of discrepancies and requests authorization to honour documents presented that are not in accordance with the terms and conditions of the documentary credit

752 Authorisation to Pay, Accept or Negotiate

Advises a bank which has requested authorisation to pay, accept, negotiate or incur a deferred payment undertaking that the presentation of the documents may be honoured, notwithstanding the discrepancies, provided they are otherwise in order

754 Advice of Payment/Acceptance/Negotiations

Advises that documents have been presented in accordance with the terms of a documentary credit and are being forwarded as instructed. This message type also handles the payment/negotiation

756 Advice of Re-imbursement or Payment

Advises of the reimbursement or payment for a drawing under a documentary credit in which no specific reimbursement instructions or payment provisions were given

760 Guarantee/Standby LC

Issues or requests the issue of a guarantee or Standby LC

767 Guarantee/ Standby LC Amendment

Amends a guarantee or Standby LC which has been previously issued or requests the amendment of a guarantee which the Sender has previously requested to be issued

768 Acknowledgement of a Guarantee/ Standby LC Message

Acknowledges the receipt of a guarantee/ Standby LC message and may indicate that action has been taken according to instructions

769 Advice of Reduction or Release

Advises that a bank has been released of its liability for a specified amount under its guarantee

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