What is Field 49: Confirmation Instructions?
Field 49: Confirmation Instructions is a field in MT 700 swift message type that contains confirmation instructions for the Receiver.
 





























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MT 700 
Field 49: Confirmation Instructions :
DEFINITION
This field contains confirmation instructions for the Receiver.
CODES
One of the following codes must be used.
  • CONFIRM The Receiver is requested to confirm the credit.
  • MAY ADD The Receiver may add its confirmation to the credit.
  • WITHOUT The Receiver is not requested to confirm the credit.





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  • Field 49: Confirmation Instructions :

  • This field contains confirmation instructions for the Receiver.
  • According to current letter of credit rules confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.
  • According to current letter of credit rules confirming bank means the bank that adds its confirmation to a credit upon the issuing bank's authorization or request. As a result banks can not add their confirmations to the letter of credit without having a confirmation request by the issuing banks.
  • According to current letter of credit rules a confirming bank is irrevocably bound to honour or negotiate as of the time it adds its confirmation to the credit.


Sample Field 49: Confirmation Instructions
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