What is Field 42P: Deferred Payment Details?
Field 42P: Deferred Payment Details is a field in MT 700 swift message type that is used to specify the payment date or method for its determination in a documentary credit which is available by deferred payment only.
 





























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MT 700 
Field 42P: Deferred Payment Details :
DEFINITION
This field specifies the payment date or method for its determination in a documentary credit which is available by deferred payment only.
CONDITIONAL RULES
  • 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


letterofcredit.biz is your gateway to International Trade Finance World designed & developed by a Certified Documentary Credit Specialist.

  • Field 42P: Deferred Payment Details :

  • This field specifies the payment date or method for its determination in a documentary credit which is available by deferred payment only.
  • A credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation.
  • By nominating a bank to accept a draft or incur a deferred payment undertaking, an issuing bank authorizes that nominated bank to prepay or purchase a draft accepted or a deferred payment undertaking incurred by that nominated bank.


Sample Field 42P: Deferred Payment Details
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