Field 49: Confirmation Instructions

Article 49: Confirmation Instructions is a field under the MT 700 Issue of a Documentary Credit swift message. This field contains confirmation instructions for the Receiver.

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What is Field 49: Confirmation Instructions?

Field 49: Confirmation Instructions is a field in MT 700 swift message type that contains confirmation instructions for the Receiver.

This is a mandatory field.

According to current letter of credit rules;

  • confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.
  • confirming bank means the bank that adds its confirmation to a credit upon the issuing bank’s authorization or request. As a result banks can not add their confirmations to the letter of credit without having a confirmation request by the issuing banks.
  • a confirming bank is irrevocably bound to honour or negotiate as of the time it adds its confirmation to the credit.

MT 700
Field 49: Confirmation Instructions:
DEFINITION
This field contains confirmation instructions for the Receiver.

CODES

  • One of the following codes must be used.
  • CONFIRM The Receiver is requested to confirm the credit.
  • MAY ADD The Receiver may add its confirmation to the credit.
  • WITHOUT The Receiver is not requested to confirm the credit.