What is Field 23: Reference to Pre-Advice?
Field 23: Reference to Pre-Advice is a field in MT 700 swift message type that is used only if the documentary credit has been pre-advised.
This is an optional field.
This field gives a reference to the pre-advised letter of credit, only if a pre-advised l/c has been previously sent to the beneficiary. In most cases this field is not utilized.
A preliminary advice of the issuance of a credit or amendment (“pre-advice”) shall only be sent if the issuing bank is prepared to issue the operative credit or amendment.
An issuing bank that sends a pre-advice is irrevocably committed to issue the operative credit or amendment, without delay, in terms not inconsistent with the pre-advice.
Field 23: Reference to Pre-Advice
This field must contain the code PREADV followed by a slash ‘/’ and a reference to the pre-advice, for example, by date.