Field 23: Reference to Pre-Advice

Article 23: Reference to Pre-Advice is an optional field under the MT 700 Issue of a Documentary Credit swift message. This field should be used only if the letter of credit is pre-advised.

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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.

MT 700
Field 23: Reference to Pre-Advice
USAGE RULES
This field must contain the code PREADV followed by a slash ‘/’ and a reference to the pre-advice, eg, by date.

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