swift standards category 7 documentary credits guarantees

SWIFTStandards Category Documentary Credits & Guarantees November 2003 Standards Release Standards Release Guide 2003 - Final edition - February 2003 Legal Notices SWIFTStandards - Category Legal Notices IMPORTANT NOTE: You may install and use this publication only if you have entered into the relevant licence agreement with SWIFT Please refer to such licence agreement to determine what you may or may not with it Note however that in the case of a ’Single User Licence’, this publication must be installed on a standalone machine for access by one person at any one time, and references to "organisation" in these notices are to the ordering customer (BIC 8) In the case of a ’Server Licence’, this publication can also be installed on a server for access within the organisation of the ordering customer (BIC 8), and references to "organisation" are then to all those SWIFT Users belonging to the same group as the ordering customer (BIC8) for traffic aggregation purposes Copyright Copyright © S.W.I.F.T SCRL ("SWIFT"), avenue Adèle 1, B-1310 La Hulpe, Belgium, 2002 All rights reserved No part of this publication may be copied or reproduced, stored in a retrieval system, sold or transferred to any person, in whole or in part, in any manner or form or on any media, without the prior written permission of SWIFT The recipient is, however, authorised to copy or reproduce this publication within its own organisation as may be reasonably necessary for the purpose for which it is supplied Any such copy or reproduction will include the following: acknowledgement of the source, reference and date of publication, and all notices set out on this page Confidentiality This publication may contain proprietary and/or confidential information of SWIFT and/or its suppliers The recipient should not disclose this publication outside its organisation without the prior written permission of SWIFT Disclaimer Although SWIFT has used reasonable efforts to ensure accuracy of its contents, SWIFT assumes no liability for any inadvertent error or omission that may appear in this publication The information in this publication is the latest available at the date of its production, and may change from time to time Trademarks and Patents SWIFT, S.W.I.F.T., the SWIFT logo, Sibos, Accord and SWIFT-derived product and service names - such as but not limited to SWIFTNet and SWIFTAlliance - are trademarks of S.W.I.F.T SCRL SWIFT is the trading name of S.W.I.F.T SCRL All other product or company names that may be mentioned in this publication are trademarks or registered trademarks of their respective owners Patent pending: SWIFTNet - TrustAct - e-paymentsPlus February 2003 edition Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category Overview Overview Added Message Types Removed Message Types Modified Message Types Added Message Types None Removed Message Types None Modified Message Types MT700 MT705 MT707 MT710 MT720 MT730 MT734 MT740 MT742 MT750 MT752 MT754 MT756 MT768 MT769 Standards Release Guide 2003 - Final edition - February 2003 MT 700 SWIFTStandards - Category 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 M 27 M Field Name Content/Options No Sequence of Total 1!n/1!n 40A Form of Documentary Credit 24x M 20 Documentary Credit Number 16x O 23 Reference to Pre-Advice 16x O 31C Date of Issue 6!n M 31D Date and Place of Expiry 6!n29x O 51a Applicant Bank A or D M 50 Applicant 4*35x M 59 Beneficiary [/34x] 4*35x M 32B Currency Code, Amount 3!a15d 10 O 39A Percentage Credit Amount Tolerance 2n/2n 11 O 39B Maximum Credit Amount 13x 12 O 39C Additional Amounts Covered 4*35x 13 M 41a Available With By A or D 14 O 42C Drafts at 3*35x 15 O 42a Drawee A or D 16 O 42M Mixed Payment Details 4*35x 17 O 42P Deferred Payment Details 4*35x 18 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 700 Status Tag Field Name Content/Options No O 43P Partial Shipments 1*35x 19 O 43T Transhipment 1*35x 20 O 44A Loading on Board/Dispatch/Taking in Charge at/from 1*65x 21 O 44B For Transportation to 1*65x 22 O 44C Latest Date of Shipment 6!n 23 O 44D Shipment Period 6*65x 24 O 45A Description of Goods and/or Services 100*65x 25 O 46A Documents Required 100*65x 26 O 47A Additional Conditions 100*65x 27 O 71B Charges 6*35x 28 O 48 Period for Presentation 4*35x 29 M 49 Confirmation Instructions 7!x 30 O 53a Reimbursing Bank A or D 31 O 78 Instructions to the Paying/Accepting/Negotiating Bank 12*65x 32 O 57a ’Advise Through’ Bank A, B or D 33 O 72 Sender to Receiver Information 6*35x 34 M = Mandatory O = Optional MT 700 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) Standards Release Guide 2003 - Final edition - February 2003 MT 700 SWIFTStandards - Category C4 Either field 44C or 44D, but not both, may be present (Error code(s): D06) MT 700 Usage Rules Unless otherwise specified, the documentary credit is issued subject to the Uniform Customs and Practice for Documentary Credits, International Chamber of Commerce, Paris, France, which are in effect on the date of issue The advising bank, ie, the Receiver of the message, must inform the beneficiary or another advising bank when the credit is subject to the ICC UCP If the documentary credit is issued subject to the Supplement of the Uniform Customs and Practice for Documentary Credits for Electronic Presentation (eUCP), the credit must indicate this and specify the applicable version of the eUCP If no eUCP version is indicated, the credit is subject to the version in effect on the date the credit is issued 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, ie, 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 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’, ’you’, etc 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 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 the total number of messages in the series Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 700 Field 40A: Form of Documentary Credit FORMAT Option A 24x (Type) PRESENCE Mandatory DEFINITION This field specifies the type of credit 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 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 Field 20: Documentary Credit Number FORMAT 16x PRESENCE Mandatory Standards Release Guide 2003 - Final edition - February 2003 MT 700 SWIFTStandards - Category DEFINITION 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): T26) Field 23: Reference to Pre-Advice FORMAT 16x PRESENCE Optional DEFINITION This field specifies if the documentary credit has been pre-advised USAGE RULES This field must contain the code PREADV followed by a slash ’/’ and a reference to the pre-advice, eg, by date Field 31C: Date of Issue FORMAT Option C 6!n (Date) PRESENCE Optional 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 Field 31D: Date and Place of Expiry Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 700 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 must be presented NETWORK VALIDATED RULES Date must contain a valid date expressed as YYMMDD (Error code(s): T50) Field 51a: Applicant Bank FORMAT Option A Option D [/1!a][/34x] 4!a2!a2!c[3!c] [/1!a][/34x] 4*35x (Party Identifier) (BIC) (Party Identifier) (Name & Address) PRESENCE Optional DEFINITION This field specifies the bank of the applicant customer, if different from the issuing bank NETWORK VALIDATED RULES The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45) The BIC must not be a BEI, ie, must not be of subtype BEID, MCCO, TESP or TRCO (Error code(s): C05) Field 50: Applicant FORMAT 4*35x (Name & Address) PRESENCE Mandatory Standards Release Guide 2003 - Final edition - February 2003 MT 700 SWIFTStandards - Category DEFINITION This field specifies the party on behalf of which the documentary credit is being issued Field 59: Beneficiary FORMAT [/34x] 4*35x (Account) (Name & Address) PRESENCE Mandatory DEFINITION This field specifies the party in favour of which the documentary credit is being issued 10 Field 32B: Currency Code, 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 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 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 11 Field 39A: Percentage Credit Amount Tolerance FORMAT Option A 10 2n/2n (Tolerance 1) (Tolerance 2) Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 790 MT 790 Advice of Charges, Interest and Other Adjustments Please refer to Category n - Common Group Messages, Chapter n90 Advice of Charges, Interest and Other Adjustments for details concerning this message type Standards Release Guide 2003 - Final edition - February 2003 195 MT 791 SWIFTStandards - Category MT 791 Request for Payment of Charges, Interest and Other Expenses Please refer to Category n - Common Group Messages, Chapter n91 Request for Payment of Charges, Interest or Other Expenses for details concerning this message type 196 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 792 MT 792 Request for Cancellation Please refer to Category n - Common Group Messages, Chapter n92 Request for Cancellation for details concerning this message type Standards Release Guide 2003 - Final edition - February 2003 197 MT 795 SWIFTStandards - Category MT 795 Queries Please refer to Category n - Common Group Messages, Chapter n95 Queries for details concerning this message type 198 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 796 MT 796 Answers Please refer to Category n - Common Group Messages, Chapter n96 Answers for details concerning this message type Standards Release Guide 2003 - Final edition - February 2003 199 MT 798 SWIFTStandards - Category MT 798 Proprietary Message Please refer to Category n - Common Group Messages, Chapter n98 Proprietary Message for details concerning this message type 200 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 799 MT 799 Free Format Message Please refer to Category n - Common Group Messages, Chapter n99 Free Format Message for details concerning this message type Standards Release Guide 2003 - Final edition - February 2003 201 SWIFTStandards - Category Table Of Contents Table of Contents Legal Notices Overview Added Message Types Removed Message Types Modified Message Types MT 700 Issue of a Documentary Credit MT 700 Scope MT 700 Format Specifications MT 700 Network Validated Rules MT 700 Usage Rules MT 700 Field Specifications (updated) Field 27: Sequence of Total Field 40A: Form of Documentary Credit Field 20: Documentary Credit Number Field 23: Reference to Pre-Advice Field 31C: Date of Issue Field 31D: Date and Place of Expiry Field 51a: Applicant Bank (updated) Field 50: Applicant Field 59: Beneficiary 10 Field 32B: Currency Code, Amount 11 Field 39A: Percentage Credit Amount Tolerance 12 Field 39B: Maximum Credit Amount 13 Field 39C: Additional Amounts Covered 14 Field 41a: Available With By (updated) 15 Field 42C: Drafts at 16 Field 42a: Drawee (updated) 17 Field 42M: Mixed Payment Details 18 Field 42P: Deferred Payment Details 19 Field 43P: Partial Shipments 20 Field 43T: Transhipment 21 Field 44A: Loading on Board/Dispatch/Taking in Charge at/from 22 Field 44B: For Transportation to 23 Field 44C: Latest Date of Shipment 24 Field 44D: Shipment Period 25 Field 45A: Description of Goods and/or Services 26 Field 46A: Documents Required 27 Field 47A: Additional Conditions 28 Field 71B: Charges 29 Field 48: Period for Presentation 30 Field 49: Confirmation Instructions 31 Field 53a: Reimbursing Bank (updated) 32 Field 78: Instructions to the Paying/Accepting/Negotiating Bank 33 Field 57a: ’Advise Through’ Bank (updated) 34 Field 72: Sender to Receiver Information MT 701 Issue of a Documentary Credit MT 701 Scope MT 701 Format Specifications MT 701 Network Validated Rules MT 701 Usage Rules MT 701 Field Specifications Field 27: Sequence of Total Field 20: Documentary Credit Number Field 45B: Description of Goods and/or Services Field 46B: Documents Required Field 47B: Additional Conditions MT 705 Pre-Advice of a Documentary Credit MT 705 Scope Standards Release Guide 2003 - Final edition - February 2003 3 3 4 6 7 8 9 10 10 10 11 11 12 13 13 13 14 14 14 15 15 15 16 16 17 17 19 20 20 21 21 22 22 24 24 24 24 24 25 25 25 25 26 27 29 29 i Table Of Contents SWIFTStandards - Category MT 705 Format Specifications MT 705 Network Validated Rules MT 705 Field Specifications (updated) Field 40A: Form of Documentary Credit Field 20: Documentary Credit Number Field 31D: Date and Place of Expiry Field 50: Applicant Field 59: Beneficiary Field 32B: Currency Code, Amount Field 39A: Percentage Credit Amount Tolerance Field 39B: Maximum Credit Amount Field 39C: Additional Amounts Covered 10 Field 41a: Available With By (updated) 11 Field 44A: Loading on Board/Dispatch/Taking in Charge at/from 12 Field 44B: For Transportation to 13 Field 44C: Latest Date of Shipment 14 Field 44D: Shipment Period 15 Field 45A: Description of Goods and/or Services 16 Field 57a: ’Advise Through’ Bank (updated) 17 Field 79: Narrative 18 Field 72: Sender to Receiver Information MT 707 Amendment to a Documentary Credit MT 707 Scope MT 707 Format Specifications MT 707 Network Validated Rules MT 707 Usage Rules MT 707 Field Specifications (updated) Field 20: Sender’s Reference Field 21: Receiver’s Reference Field 23: Issuing Bank’s Reference Field 52a: Issuing Bank (updated) Field 31C: Date of Issue Field 30: Date of Amendment Field 26E: Number of Amendment Field 59: Beneficiary (before this amendment) Field 31E: New Date of Expiry 10 Field 32B: Increase of Documentary Credit Amount 11 Field 33B: Decrease of Documentary Credit Amount 12 Field 34B: New Documentary Credit Amount After Amendment (updated) 13 Field 39A: Percentage Credit Amount Tolerance 14 Field 39B: Maximum Credit Amount 15 Field 39C: Additional Amounts Covered 16 Field 44A: Loading on Board/Dispatch/Taking in Charge at/from 17 Field 44B: For Transportation to 18 Field 44C: Latest Date of Shipment 19 Field 44D: Shipment Period 20 Field 79: Narrative 21 Field 72: Sender to Receiver Information MT 710 Advice of a Third Bank’s Documentary Credit MT 710 Scope MT 710 Format Specifications MT 710 Network Validated Rules MT 710 Usage Rules MT 710 Field Specifications (updated) Field 27: Sequence of Total Field 40B: Form of Documentary Credit Field 20: Sender’s Reference Field 21: Documentary Credit Number Field 23: Reference to Pre-Advice Field 31C: Date of Issue Field 31D: Date and Place of Expiry Field 52a: Issuing Bank (updated) ii 29 30 30 30 31 31 31 32 32 32 33 33 33 34 35 35 35 36 36 37 37 38 38 38 39 39 40 40 40 40 41 41 42 42 43 43 43 44 44 45 45 46 46 46 47 47 47 48 50 50 50 51 52 52 52 53 54 54 54 55 55 56 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category Field 51a: Applicant Bank (updated) 10 Field 50: Applicant 11 Field 59: Beneficiary 12 Field 32B: Currency Code, Amount 13 Field 39A: Percentage Credit Amount Tolerance 14 Field 39B: Maximum Credit Amount 15 Field 39C: Additional Amounts Covered 16 Field 41a: Available With By (updated) 17 Field 42C: Drafts at 18 Field 42a: Drawee (updated) 19 Field 42M: Mixed Payment Details 20 Field 42P: Deferred Payment Details 21 Field 43P: Partial Shipments 22 Field 43T: Transhipment 23 Field 44A: Loading on Board/Dispatch/Taking in Charge at/from 24 Field 44B: For Transportation to 25 Field 44C: Latest Date of Shipment 26 Field 44D: Shipment Period 27 Field 45A: Description of Goods and/or Services 28 Field 46A: Documents Required 29 Field 47A: Additional Conditions 30 Field 71B: Charges 31 Field 48: Period for Presentation 32 Field 49: Confirmation Instructions 33 Field 53a: Reimbursing Bank (updated) 34 Field 78: Instructions to the Paying/Accepting/Negotiating Bank 35 Field 57a: ’Advise Through’ Bank (updated) 36 Field 72: Sender to Receiver Information MT 711 Advice of a Third Bank’s Documentary Credit MT 711 Scope MT 711 Format Specifications MT 711 Network Validated Rules MT 711 Usage Rules MT 711 Field Specifications Field 27: Sequence of Total Field 20: Sender’s Reference Field 21: Documentary Credit Number Field 45B: Description of Goods and/or Services Field 46B: Documents Required Field 47B: Additional Conditions MT 720 Transfer of a Documentary Credit MT 720 Scope MT 720 Format Specifications MT 720 Network Validated Rules MT 720 Usage Rules MT 720 Field Specifications (updated) Field 27: Sequence of Total Field 40B: Form of Documentary Credit Field 20: Transferring Bank’s Reference Field 21: Documentary Credit Number Field 31C: Date of Issue Field 31D: Date and Place of Expiry Field 52a: Issuing Bank of the Original Documentary Credit (updated) Field 50: First Beneficiary Field 59: Second Beneficiary 10 Field 32B: Currency Code, Amount 11 Field 39A: Percentage Credit Amount Tolerance 12 Field 39B: Maximum Credit Amount 13 Field 39C: Additional Amounts Covered 14 Field 41a: Available With By (updated) 15 Field 42C: Drafts at 16 Field 42a: Drawee (updated) Standards Release Guide 2003 - Final edition - February 2003 Table Of Contents 56 56 57 57 57 58 58 59 60 60 60 61 61 61 62 62 62 63 63 64 64 66 67 67 68 68 69 69 71 71 71 71 71 72 72 72 73 73 74 74 77 77 77 78 79 79 79 79 80 81 81 81 82 82 83 83 83 84 84 84 86 86 iii Table Of Contents SWIFTStandards - Category 17 Field 42M: Mixed Payment Details 18 Field 42P: Deferred Payment Details 19 Field 43P: Partial Shipments 20 Field 43T: Transhipment 21 Field 44A: Loading on Board/Dispatch/Taking in Charge at/from 22 Field 44B: For Transportation to 23 Field 44C: Latest Date of Shipment 24 Field 44D: Shipment Period 25 Field 45A: Description of Goods and/or Services 26 Field 46A: Documents Required 27 Field 47A: Additional Conditions 28 Field 71B: Charges 29 Field 48: Period for Presentation 30 Field 49: Confirmation Instructions 31 Field 78: Instructions to the Paying/Accepting/Negotiating Bank 32 Field 57a: ’Advise Through’ Bank (updated) 33 Field 72: Sender to Receiver Information MT 721 Transfer of a Documentary Credit MT 721 Scope MT 721 Format Specifications MT 721 Network Validated Rules MT 721 Usage Rules MT 721 Field Specifications Field 27: Sequence of Total Field 20: Transferring Bank’s Reference Field 21: Documentary Credit Number Field 45B: Description of Goods and/or Services Field 46B: Documents Required Field 47B: Additional Conditions MT 730 Acknowledgement MT 730 Scope MT 730 Format Specifications MT 730 Network Validated Rules MT 730 Field Specifications (updated) Field 20: Sender’s Reference Field 21: Receiver’s Reference Field 25: Account Identification Field 30: Date of the Message Being Acknowledged Field 32a: Amount of Charges Field 57a: Account With Bank (updated) Field 71B: Charges Field 72: Sender to Receiver Information MT 732 Advice of Discharge MT 732 Scope MT 732 Format Specifications MT 732 Network Validated Rules MT 732 Field Specifications Field 20: Sender’s TRN Field 21: Presenting Bank’s Reference Field 30: Date of Advice of Payment/Acceptance/Negotiation Field 32B: Amount of Utilisation Field 72: Sender to Receiver Information MT 734 Advice of Refusal MT 734 Scope MT 734 Format Specifications MT 734 Network Validated Rules MT 734 Field Specifications (updated) Field 20: Sender’s TRN Field 21: Presenting Bank’s Reference Field 32A: Date and Amount of Utilisation Field 73: Charges Claimed Field 33a: Total Amount Claimed iv 86 87 87 87 88 88 88 89 89 90 90 92 93 93 94 94 94 96 96 96 96 96 97 97 97 97 98 99 99 102 102 102 102 102 103 103 103 104 104 105 105 106 108 108 108 108 108 108 109 109 109 110 111 111 111 111 112 112 112 112 113 113 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category Field 57a: Account With Bank (updated) Field 72: Sender to Receiver Information Field 77J: Discrepancies Field 77B: Disposal of Documents MT 740 Authorisation to Reimburse MT 740 Scope MT 740 Format Specifications MT 740 Network Validated Rules MT 740 Usage Rules MT 740 Field Specifications (updated) Field 20: Documentary Credit Number Field 25: Account Identification Field 31D: Date and Place of Expiry Field 58a: Negotiating Bank (updated) Field 59: Beneficiary Field 32B: Credit Amount Field 39A: Percentage Credit Amount Tolerance Field 39B: Maximum Credit Amount Field 39C: Additional Amounts Covered 10 Field 41a: Available With By (updated) 11 Field 42C: Drafts at 12 Field 42a: Drawee (updated) 13 Field 42M: Mixed Payment Details 14 Field 42P: Deferred Payment Details 15 Field 71A: Reimbursing Bank’s Charges 16 Field 71B: Other Charges 17 Field 72: Sender to Receiver Information MT 742 Reimbursement Claim MT 742 Scope MT 742 Format Specifications MT 742 Network Validated Rules MT 742 Field Specifications (updated) Field 20: Claiming Bank’s Reference Field 21: Documentary Credit Number Field 31C: Date of Issue Field 52a: Issuing Bank (updated) Field 32B: Principal Amount Claimed Field 33B: Additional Amount Claimed as Allowed for in Excess of Principal Amount Field 71B: Charges Field 34a: Total Amount Claimed Field 57a: Account With Bank (updated) 10 Field 58a: Beneficiary Bank (updated) 11 Field 72: Sender to Receiver Information MT 747 Amendment to an Authorisation to Reimburse MT 747 Scope MT 747 Format Specifications MT 747 Network Validated Rules MT 747 Usage Rules MT 747 Field Specifications Field 20: Documentary Credit Number Field 21: Reimbursing Bank’s Reference Field 30: Date of the Original Authorisation to Reimburse Field 31E: New Date of Expiry Field 32B: Increase of Documentary Credit Amount Field 33B: Decrease of Documentary Credit Amount Field 34B: New Documentary Credit Amount After Amendment Field 39A: Percentage Credit Amount Tolerance Field 39B: Maximum Credit Amount 10 Field 39C: Additional Amounts Covered 11 Field 72: Sender to Receiver Information 12 Field 77A: Narrative MT 750 Advice of Discrepancy Standards Release Guide 2003 - Final edition - February 2003 Table Of Contents 114 115 115 116 117 117 117 118 118 118 118 119 119 119 120 120 121 121 122 122 123 123 124 124 124 125 125 127 127 127 127 127 128 128 128 129 129 130 130 131 132 132 133 135 135 135 135 136 136 136 136 137 137 137 138 139 139 140 140 140 141 142 v Table Of Contents MT 750 Scope MT 750 Format Specifications MT 750 Network Validated Rules MT 750 Field Specifications (updated) Field 20: Sender’s Reference Field 21: Related Reference Field 32B: Principal Amount Field 33B: Additional Amount Field 71B: Charges to be Deducted Field 73: Charges to be Added Field 34B: Total Amount to be Paid Field 57a: Account With Bank (updated) Field 72: Sender to Receiver Information 10 Field 77J: Discrepancies MT 752 Authorisation to Pay, Accept or Negotiate MT 752 Scope MT 752 Format Specifications MT 752 Network Validated Rules MT 752 Usage Rules MT 752 Field Specifications (updated) Field 20: Documentary Credit Number Field 21: Presenting Bank’s Reference Field 23: Further Identification Field 30: Date of Advice of Discrepancy or Mailing Field 32B: Total Amount Advised Field 71B: Charges Deducted Field 33a: Net Amount Field 53a: Sender’s Correspondent (updated) Field 54a: Receiver’s Correspondent (updated) 10 Field 72: Sender to Receiver Information MT 754 Advice of Payment/Acceptance/Negotiation MT 754 Scope MT 754 Format Specifications MT 754 Network Validated Rules MT 754 Field Specifications (updated) Field 20: Sender’s Reference Field 21: Related Reference Field 32a: Principal Amount Paid/Accepted/Negotiated Field 33B: Additional Amounts Field 71B: Charges Deducted Field 73: Charges Added Field 34a: Total Amount Claimed Field 53a: Reimbursing Bank (updated) Field 57a: Account With Bank (updated) 10 Field 58a: Beneficiary Bank (updated) 11 Field 72: Sender to Receiver Information 12 Field 77A: Narrative MT 756 Advice of Reimbursement or Payment MT 756 Scope MT 756 Format Specifications MT 756 Network Validated Rules MT 756 Usage Rules MT 756 Field Specifications (updated) Field 20: Sender’s Reference Field 21: Presenting Bank’s Reference Field 32B: Total Amount Claimed Field 33A: Amount Reimbursed or Paid Field 53a: Sender’s Correspondent (updated) Field 54a: Receiver’s Correspondent (updated) Field 72: Sender to Receiver Information MT 760 Guarantee MT 760 Scope vi SWIFTStandards - Category 142 142 142 143 143 143 143 144 144 145 146 146 147 147 149 149 149 149 150 150 150 150 150 151 152 152 153 154 154 155 157 157 157 158 158 158 158 159 159 160 161 162 163 163 164 164 165 167 167 167 167 167 167 168 168 168 169 169 170 171 172 172 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category MT 760 Format Specifications MT 760 Network Validated Rules MT 760 Usage Rules MT 760 Field Specifications Field 27: Sequence of Total Field 20: Transaction Reference Number Field 23: Further Identification Field 30: Date Field 77C: Details of Guarantee Field 72: Sender to Receiver Information MT 767 Guarantee Amendment MT 767 Scope MT 767 Format Specifications MT 767 Network Validated Rules MT 767 Usage Rules MT 767 Field Specifications Field 27: Sequence of Total Field 20: Transaction Reference Number Field 21: Related Reference Field 23: Further Identification Field 30: Date Field 26E: Number of Amendment Field 31C: Date of Issue or Request to Issue Field 77C: Amendment Details Field 72: Sender to Receiver Information MT 768 Acknowledgement of a Guarantee Message MT 768 Scope MT 768 Format Specifications MT 768 Network Validated Rules MT 768 Field Specifications (updated) Field 20: Transaction Reference Number Field 21: Related Reference Field 25: Account Identification Field 30: Date of Message Being Acknowledged Field 32a: Amount of Charges Field 57a: Account With Bank (updated) Field 71B: Details of Charges Field 72: Sender to Receiver Information MT 769 Advice of Reduction or Release MT 769 Scope MT 769 Format Specifications MT 769 Network Validated Rules MT 769 Field Specifications (updated) Field 20: Transaction Reference Number Field 21: Related Reference Field 25: Account Identification Field 30: Date of Reduction or Release Field 32a: Amount of Charges Field 33B: Amount Reduced or Released Field 34B: Amount Outstanding Field 39C: Amount Specification Field 57a: Account With Bank (updated) 10 Field 71B: Details of Charges 11 Field 72: Sender to Receiver Information MT 790 Advice of Charges, Interest and Other Adjustments MT 791 Request for Payment of Charges, Interest and Other Expenses MT 792 Request for Cancellation MT 795 Queries MT 796 Answers MT 798 Proprietary Message MT 799 Free Format Message Standards Release Guide 2003 - Final edition - February 2003 Table Of Contents 172 172 172 172 172 173 173 174 174 174 176 176 176 176 176 177 177 177 177 178 178 179 179 179 180 182 182 182 182 183 183 183 183 184 184 185 185 186 188 188 188 188 189 189 189 190 190 190 191 192 192 192 193 194 195 196 197 198 199 200 201 vii [...]... February 2003 SWIFTStandards - Category 7 MT 70 0 Some examples of invalid combinations: MT 70 0 contains field 47A; the first MT 70 1 contains fields 45B and 46B; the second MT 70 1 contains field 47B (INVALID because there are two fields 47a) MT 70 0 contains field 47A; the first MT 70 1 contains field 47B; the second MT 70 1 contains fields 45B, 46B and 47B (INVALID because there are three fields 47a) The specification... the subsequent MT 70 1 contains fields 46B and 47B MT 70 0 contains field 46A; the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B Some examples of... subsequent MT 70 1 contains fields 45B and 46B MT 70 0 contains field 46A; the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B 18 Standards Release... the subsequent MT 70 1 contains fields 46B and 47B MT 70 0 contains field 46A; the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B Some examples of... 46B and 47B MT 70 0 contains field 46A; the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B Some examples of invalid combinations: MT 70 0 contains... MT 70 0 contains field 46A; the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B Some examples of invalid combinations: MT 70 0 contains field 47A;... the subsequent MT 70 1 contains fields 45B and 47B MT 70 0 contains field 46A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 47B MT 70 0 does not contain fields 45A, 46A or 47A; the first MT 70 1 contains field 45B; the second MT 70 1 contains field 46B; the third MT 70 1 contains field 47B Some examples of invalid combinations: MT 70 0 contains field 46A; the first MT 70 1 contains fields... 70 0 contains field 45A; the first MT 70 1 contains fields 45B and 46B; the second MT 70 1 contains field 47B (INVALID because there are two fields 45a) MT 70 0 contains field 45A; the first MT 70 1 contains field 45B; the second MT 70 1 contains fields 45B, 46B and 47B (INVALID because there are three fields 45a) 16 Standards Release Guide 2003 - Final edition - February 2003 SWIFTStandards - Category 7. .. lengthy documentary credits, up to three MT 70 1s may be sent in addition to an MT 70 0 However, field 47a may appear in only one message, ie, either in the MT 70 0 or in one MT 70 1 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 70 0 contains field 45A, 46A, and 47A MT 70 0 contains field 47A;... field Standards Release Guide 2003 - Final edition - February 2003 23 MT 70 1 SWIFTStandards - Category 7 MT 70 1 Issue of a Documentary Credit MT 70 1 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 70 0 Issue of a Documentary