MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively.
- Banks use MT700 when issuing a commercial letter of credit or a standby letter of credit.
- Banks use MT760 when issuing a demand guarantee or a standby letter of credit.
MT700 is used to indicate the terms and conditions of a commercial documentary credit or a standby letter of credit which has been originated by the Sender (issuing bank). This message is sent by the issuing bank to the advising bank.
Comparison Between MT700 and MT760