What is Field 50: Applicant?
Field 50: Applicant is a field in MT 700 swift message type that is used to specify the party on behalf of which the documentary credit is being issued.

 





























.
MT 700 
Field 50: Applicant :
This field specifies the party on behalf of which the documentary credit is being issued. Applicant is the importer of the underlying contract.




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

  • Field 50: Applicant :

  • This field specifies the party on behalf of which the documentary credit is being issued.
  • Applicant means the party on whose request the credit is issued.
  • A credit must not be issued available by a draft drawn on the applicant.
  • A bank utilizing the services of another bank for the purpose of giving effect to the instructions of the applicant does so for the account and at the risk of the applicant.
  • The applicant shall be bound by and liable to indemnify a bank against all obligations and responsibilities imposed by foreign laws and usages.


Sample Field 50: Applicant
Keywords : Applicant, mt 700 swift, Standards MT Messages Implementation Guidelines - Swift, SWIFT MT700 codes, SWIFTStandards - Category 7 - Documentary Credits, What is swift mt 700 in banking, MT 700 sender definately is a LC issuing bank, MT 700 Series, Complete MT700, MT700 codes, Mt700 swift format in doc, MT700 or MT760 or ISO 20022

Letter of Credit | About Us | Our Services | Contact | CDCS | Certified Documentary Credit Specialist |© 2009-2010 Letter of Credit Consultancy Services. All rights reserved. Best view with 1024 X 768 resolution.                                                                                         | Privacy Policy |Hi, my name is Ozgur Eker(CDCS). You can connect with me either via my contact form or Google Plus.