MT 752 Authorisation to Pay, Accept or Negotiate

MT 752 is a swift message type which is sent by the issuing bank, or the nominated bank if so authorized by the issuing bank, to a paying/accepting/negotiating bank in response to a request for authorization to pay/accept/negotiate/incur a deferred payment undertaking previously requested via an MT 750 Advice of Discrepancy or otherwise.

0
1468

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 752 Authorisation to Pay, Accept or Negotiate?

MT 752 is a special swift message type that is sent by the issuing bank, or the nominated bank if so authorized by the issuing bank, to a paying/accepting/negotiating bank in response to a request for authorization to pay/accept/negotiate/incur a deferred payment undertaking previously requested via an MT 750 Advice of Discrepancy or otherwise.

It is used to advise the Receiver that documents may be taken up, notwithstanding the discrepancies, provided they are otherwise in order.

MT 752 Authorisation to Pay, Accept or Negotiate

StatusTagField Name
M20Documentary Credit Number
M21Presenting Bank's Reference
M23Further Identification
M30Date of Advice of Discrepancy or Mailing
O32BTotal Amount Advised
O71BCharges Deducted
O33aNet Amount
O53aSender's Correspondent
O54aReceiver's Correspondent
O72Sender to Receiver Information
O : Optinal           M : Mandatory

MT 752 Network Validated Rules

  • C1 If fields 32B and 71B are both present, then field 33a must also be present.
  • C2 The currency code in the amount fields 32B and 33a must be the same.

MT 752 Usage Rules

  • When cover is to be remitted via other banks, these banks are specified in fields 53a and 54a.
  • The code RCB may only be used in field 72 if both fields 53a and 54a are present in the message.

Sample: MT 752 Authorisation to Pay, Accept or Negotiate

SWIFT Message
Sender : AMCONL2A
Message Type : 752
Receiver : OELBATSW

Message Text

20 : Documentary Credit Number
LC543217890

21 : Presenting Bank’s Reference
LIS22312

23 : Further Identification
ACCEPT

30 : Date of Advice of Discrepancy
130815
End of Message Text/Trailer