What is Field 57a: Advise Through Bank?
Field 57a: ‘Advise Through’ Bank is a field in MT 700 swift message type that identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.
This is an optional field.
According to current letter of credit rules;
- advising bank means the bank that advises the credit at the request of the issuing bank.
- a credit and any amendment may be advised to a beneficiary through an advising bank. An advising bank that is not a confirming bank advises the credit and any amendment without any undertaking to honour or negotiate.
- an advising bank may utilize the services of another bank (“second advising bank”) to advise the credit and any amendment to the beneficiary. A bank utilizing the services of an advising bank or second advising bank to advise a credit must use the same bank to advise any amendment thereto.
- if a bank is requested to advise a credit or amendment but elects not to do so, it must so inform, without delay, the bank from which the credit, amendment or advice has been received.
Field 57a: ‘Advise Through’ Bank:
This field identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.