MESSAGE MT700 – OPENED LETTER OF CREDIT

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

MESSAGE MT701 – OPENED LETTER OF CREDIT

This message is sent by the issuing bank to the advising/confirming 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.

MESSAGE MT705 – PRE-ADVICE OF LETTER OF CREDIT

This message is sent by the issuing bank to the advising/confirming 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.

MESSAGE MT707 – AMENDMENT TO LETTER OF CREDIT

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.

MESSAGE MT710,711 – ADVICE OF A THIRD BANK’S OR NON-BANK’S DCOUMENTARY CREDIT

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.

MESSAGE MT720,721 – TRANSFER THE LETTER OF CREDIT

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.

MESSAGE MT730 – ACKNOWLEDGEMENT

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. Include reference numbers which banks rely on the exchange of all correspondence. This message type may also be used: to account for bank charges and to advise of acceptance or rejection of an amendment of a credit.

MESSAGE MT732 – ADVICE OF DISCHARGE

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.

MESSAGE MT734 – ADVICE OF REFUSAL

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.

MESSAGE MT740 – AUTHORISATION TO REIMBURSE

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.

MESSAGE MT742 – REIMBURSEMENT CLAIM

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 (showing in field 57 in message MT700 (701) or MT710 (711) or MT720 (721).

MESSAGE MT747 – AMENDMENT TO AN AUTHORISATION TO REIMBURSE

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.

MESSAGE MT750 – ADVICE OF DISCREPANCY

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.

MESSAGE MT752 – AUTHORISATION TO PAY, ACCEPT OR NEGOTIATE

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.

MESSAGE MT754 – ADVICE OF PAYMENT/ACCEPTANCE/NEGOTIATION

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, 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.

MESSAGE MT756 – ADVICE OF REIMBURSEMENT OR PAYMENT

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.

MESSAGE MT796 – REFUSAL OF DISCREPANCY

This message is sent by the issuing bank to the bank when Beneficiary presented documents as negative answer to message MT750.

MESSAGE MT799 – ENCRYPTED FREE FORMAT

Used by banks involved in the process of letter of credit. Send in all cases relating to the letter of credit or presented documents.

MESSAGE MT999 – NON ENCRYPTED FREE FORMAT

Used by banks involved in the process of letter of credit. Send in all cases relating to the letter of credit or presented documents.

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