Field 40A: Form of Documentary Credit

Article 40A: Form of Documentary Credit is a swift message field under the MT 700 Issue of a Documentary Credit swift message. This field indicates the form of the letter of credit.

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What is field 40A: Form of Documentary Credit?

Field 40A: Form of Documentary Credit is a field in MT 700 swift message that is used to indicate the form of the letter of credit.

This is a mandatory field, which means that it must be stated in all of the letters of credit issued via MT 700 swift format.

This field specifies the type of credit.

Codes: One of the following codes must be used

  • IRREVOCABLE The documentary credit is irrevocable.
  • REVOCABLE The documentary credit is revocable.
  • IRREVOCABLE TRANSFERABLE The documentary credit is irrevocable and transferable.
  • REVOCABLE TRANSFERABLE The documentary credit is revocable and transferable.
  • IRREVOCABLE STANDBY The standby letter of credit is irrevocable.
  • REVOCABLE STANDBY The standby letter of credit is revocable.
  • IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable.

MT 700
Field 40A: Form of Documentary Credit
USAGE RULES
Details of any special conditions applying to the transferability of the credit and/or the bank authorized to transfer the credit in a freely negotiable credit should be included in field 47A Additional Conditions.