What is Field 42P: Deferred Payment Details?
Field 42P: Deferred Payment Details is a field in MT 700 swift message type that is used to specify the payment date or method for its determination in a documentary credit which is available by deferred payment only.
This is an optional field.
A credit must state whether it is available by sight payment, deferred payment, acceptance or negotiation.
By nominating a bank to accept a draft or incur a deferred payment undertaking, an issuing bank authorizes that nominated bank to prepay or purchase a draft accepted or a deferred payment undertaking incurred by that nominated bank.
Field 42P: Deferred Payment Details:
This field specifies the payment date or method for its determination in a documentary credit which is available by deferred payment only.
Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other combination of these fields is allowed.
|Letter of Credit Consultancy|
|Letter of Credit Consultancy:|
Struggling with letters of credit. We can help. We check the credits, prepare draft documents and control them before presentation. With competitive prices. 10 years of experience, more than 300 hundred references. Please click here for more details.