Swift is a provider of secure message platform for financial institutions mainly for banks.
Swift messages are being sent and received by banks in encrypted forms. As a result swift messages are accepted as a valid and reliable way of communication between banks.
For example, an issuing bank sends a swift message to an advising bank in order to inform issuance of a documentary credit. Similarly the advising bank sends its acknowledgement via a swift message.
Swift messages play a key role not only in letters of credit but also other payment methods in international trade such as cash in advance payment, documentary collections, open accounts and bank payment obligations.
What is MT 732 Advice of Discharge?
This message is sent by the issuing bank to the paying/negotiating or accepting bank.
It may also be sent by the paying/accepting/negotiating bank to the bank from which it has received documents.
It is used to advise the Receiver that the documents received with discrepancies have been taken up.
MT 732 Advice of Discharge
|Presenting Bank's Reference
|Date of Advice of Payment/Acceptance/ Negotiation
|Amount of Utilisation
|Sender to Receiver Information
|M = Mandatory, O = Optional