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MT 742 Reimbursement Claim :











Swift is a provider of secure message platform for financial institutions mainly for banks. Swift messages send and received by banks in encrypted forms. As a result swift messages are accepted as a valid and reliable way of communication between banks. For example, an issuing bank send a swift message to an advising bank in order to inform issuance of a documentary credit. Similarly advising banks send their acknowledgement via a swift message

Swift messages play a key role not only in letters of credit but also other payment methods in international trade such as cash in advance paymentdocumentary collections, open accounts and bank payment obligations.

What is MT 742 Reimbursement Claim in trade finance?

MT 742 is a special swift message type that 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. On below table you can find detailed explanations of fields used under MT 742 Reimbursement Claim swift messages

















MT 740 Network Validated Rules
  • There are no network validated rules for this message type.

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What does MT 742 Reimbursement Claim swift message mean? 
MT 742 is a special swift message type that is sent by the paying/negotiating bank to the bank authorised to reimburse the Sender for its payments/negotiations.



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Keywords


  • an issuing bank should discourage any attempt bythe applicant to include copies of contract as integral part of leter of credit
  • international contract of sale
  • international contract letter of credit
  • international sales contract real example
  • sale contract and sale invoices
  • sales contract with lc
  • letter of credit format for construction contract




 MT 742 Reimbursement Claim
Status
Tag
Field Name
M
20
Claiming Bank's Reference
M
21
Documentary Credit Number
O
31C
Date of Issue
M
52a
Issuing Bank
M
32B
Principal Amount Claimed
O
33B
Additional Amount Claimed as Allowed for in
Excess of Principal Amount
M
71B
Charges
M
34a
Total Amount Claimed
O
57a
Account With Bank
O
58a
Beneficiary Bank
O
72
Sender to Receiver Information
O : Optinal           M : Mandatory
Sample 1 : MT 742 Reimbursement Claim SWIFT Message
SWIFT Message
Sender   : AMCONL2A
Message Type : 742
Receiver : OELBATSW
Message Text
20 : Claiming Bank's Reference
LC543217890
21 : Documentary Credit Number
IM-DOC 123/2563789
31C : Date of Issue
130622
52A : Issuing Bank
ITSLBE55
32B : Principal Amount Claimed
EUR45000
71B : Charges
/COMM/EUR300,
34B : Total Amount Claimed
EUR45300
57A : Account With Bank
ROTTNL2A
58A : Beneficiary Bank
/700-122433 ROTTNL55
End of Message Text/Trailer