Page 18 – Letter of Credit Consultancy Services

MT 756 Advice of Reimbursement or Payment

Ozgur Eker (CDCS) MT 756 Advice of Reimbursement or Payment, Swift Messages 11 October 20186 April 2019MT 756 Advice of Reimbursement or Payment, Swift, Swift Messages

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 756 Advice of Reimbursement or Payment?

MT 756 is a special swift message type that is sent by the issuing bank to the bank from which it has received documents or by the reimbursing bank to the bank from which it has received a reimbursement claim.

It may also be sent by the bank nominated to pay/accept/negotiate/incur a deferred payment undertaking to the bank from which it has received documents.

It is used to advise the Receiver about reimbursement or payment, to that bank, for a drawing under a documentary credit for which no specific reimbursement instructions or payment provisions were provided.

The account relationship between the Sender and the Receiver is used unless otherwise expressly stated in the message.

MT 756 Advice of Reimbursement or Payment

Status	Tag	Field Name
M	20	Sender's Reference
M	21	Presenting Bank's Reference
M	32B	Total Amount Claimed
M	33A	Amount Reimbursed or Paid
O	53a	Sender's Correspondent
O	54a	Receiver's Correspondent
O	72	Sender to Receiver Information
		O : Optinal M : Mandatory

MT 756 Network Validated Rules

C1 The currency code in the amount fields 32B and 33A must be the same.

MT 756 Usage Rules

The code RCB may only be used in field 72 if both fields 53a and 54a are present in the message.

Sample: MT 756 Advice of Reimbursement or Payment SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 756
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
LC543217890
21 : Presenting Bank’s Reference
IMLC 123/25544
32B : Total Amount Claimed
EUR45000
33A : Amount Reimbursed or Paid
131230EUR45000
53A : Sender’s Correspondent
OELBAT2L
End of Message Text/Trailer

MT 754 Advice of Payment/Acceptance/Negotiation

Ozgur Eker (CDCS) MT 754 Advice of Payment/Acceptance/Negotiation, Swift Messages 10 October 20186 April 2019MT 754 Advice of Payment/Acceptance/Negotiation, Swift, Swift Messages

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.

What is MT 754 Advice of Payment/Acceptance/Negotiation?

MT 754 is a special swift message type that is sent by the paying, accepting or negotiating bank, or the bank incurring a deferred payment undertaking, to the issuing bank.

It may also be sent by the bank to which documents have been presented to a bank that has been nominated to pay/accept. It is used to advise the Receiver that documents were presented in accordance with the credit terms and are being forwarded as instructed.

The MT 754 may also be used:

for the settlement of the payment/negotiation
as a pre-notification of a reimbursement claim from the claiming bank to the issuing bank
as a pre-debit notification from the claiming bank to the issuing bank.

Note: Where a pre-debit notification from the reimbursing bank to the issuing bank is required, banks should use the MT 799 Free Format message, specifying the future date of debit.

MT 754 Advice of Payment/Acceptance/Negotiation

Status	Tag	Field Name
M	20	Sender's Reference
M	21	Related Reference
M	32a	Principal Amount Paid/Accepted/Negotiated
O	33B	Additional Amounts
O	71B	Charges Deducted
O	73	Charges Added
O	34a	Total Amount Claimed
O	53a	Reimbursing Bank
O	57a	Account With Bank
O	58a	Beneficiary Bank
O	72	Sender to Receiver Information
O	77A	Narrative
		O : Optinal M : Mandatory

MT 754 Network Validated Rules

C1 Either field 72 or 77A may be present, but not both.
C2 Either field 53a or 57a may be present, but not both.
C3 The currency code in the amount fields 32a and 34a must be the same.

Sample: MT 754 Advice of Payment/Acceptance/Negotiation SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 754
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
LC543217890
21 : Related Reference
IMLC 123/25544
32A : Principal Amount Paid
130817EUR45000
73 : Charges Added
COMMISSION EUR250
34A : Total Amount Claimed
130817EUR45250
53A : Reimbursing Bank
DELBATSW
End of Message Text/Trailer

MT 752 Authorisation to Pay, Accept or Negotiate

Ozgur Eker (CDCS) MT 752 Authorisation to Pay Accept or Negotiate, Swift Messages 10 October 20186 April 2019MT 752 Authorisation to Pay Accept or Negotiate, Swift, Swift Messages

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.

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

Status	Tag	Field Name
M	20	Documentary Credit Number
M	21	Presenting Bank's Reference
M	23	Further Identification
M	30	Date of Advice of Discrepancy or Mailing
O	32B	Total Amount Advised
O	71B	Charges Deducted
O	33a	Net Amount
O	53a	Sender's Correspondent
O	54a	Receiver's Correspondent
O	72	Sender 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

MT 750 Advice of Discrepancy

Ozgur Eker (CDCS) MT 750 Advice of Discrepancy 9 October 20186 April 2019MT 750 Advice of Discrepancy, Swift, Swift Messages

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.

What is MT 750 Advice of Discrepancy?

MT 750 is a swift message type that is sent by the bank to which documents have been presented, to the issuing bank.

It may also be sent to a bank nominated to pay/accept/negotiate/incur a deferred payment undertaking.

It is used to advise the Receiver that documents which have been presented are not in accordance with the terms and conditions of the credit.

The MT 750 is a request for authorization to take up documents. Authorization may be provided using an MT 752 Authorisation to Pay, Accept or Negotiate; a negative reply to the request may be provided using an MT 796 Answers.

MT 750 Advice of Discrepancy

Status	Tag	Field Name
M	20	Sender's Reference
M	21	Related Reference
M	32B	Principal Amount
O	33B	Additional Amount
O	71B	Charges to be Deducted
O	73	Charges to be Added
O	34B	Total Amount to be Paid
O	57a	Account With Bank
O	72	Sender to Receiver Information
M	77J	Discrepancies
		O : Optinal M : Mandatory

MT 750 Network Validated Rules
C1 If field 33B and/or field 71B and/or field 73 is/are present, field 34B must also be present.
C2 The currency code in the amount fields 32B and 34B must be the same.

Sample: MT 750 Advice of Discrepancy SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 750
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
LC543217890
21 : Related Reference
IM-DOC 123/2563789
32B : Principal Amount Claimed
EUR45000
77J : Discrepancies
COPY CONSULAR CERTIFICATE OF ORIGIN NOT PRESENTED AND COPY LETTER OF DECLARATION FROM BENEFICIARY’S TO APPLICANT DOES NOT SHOW ORIGINAL CONSULAR INVOICE AND CERTIFICATE OF ORIGIN AIRMAILED TO APPLICANT.
End of Message Text/Trailer

MT 747 Amendment to an Authorisation to Reimburse

Ozgur Eker (CDCS) MT 747 Amendment to an Authorisation to Reimburse, Swift Messages 9 October 20186 April 2019MT 747 Amendment to an Authorisation to Reimburse, Swift, Swift Messages

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.

What is MT 747 Amendment to an Authorisation to Reimburse?

MT 747 is a swift message type that is sent by the bank which has issued an authorization to reimburse (issuing bank) to the reimbursing bank.

It is used to inform the Receiver about amendments to the terms and conditions of the credit relevant to the authorization to reimburse.

The amendment is to be considered as part of the authorization to reimburse.

On below table you can find detailed explanations of the fields used under MT 747 Amendment to an Authorisation to Reimburse swift messages.

MT 747 Amendment to an Authorisation to Reimburse

Status	Tag	Field Name
M	20	Documentary Credit Number
O	21	Reimbursing Bank's Reference
M	30	Date of the Original Authorisation to Reimburse
O	31E	New Date of Expiry
O	32B	Increase of Documentary Credit Amount
O	33B	Decrease of Documentary Credit Amount
O	34B	New Documentary Credit Amount After Amendment
O	39A	Percentage Credit Amount Tolerance
O	39B	Maximum Credit Amount
O	39C	Additional Amounts Covered
O	72	Sender to Receiver Information
O	77A	Narrative
		O : Optinal M : Mandatory

MT 747 Network Validated Rules

C1 At least one of the fields 31E, 32B, 33B, 34B, 39A, 39B, 39C, 72 or 77A must be present.
C2 If either field 32B or 33B is present, then field 34B must also be present.
C3 If field 34B is present, either field 32B or 33B must also be present.
C4 Either field 39A or 39B, but not both, may be present.
C5 The currency code in the amount fields 32B, 33B and 34B must be the same.

MT 747 Usage Rules

Terms and conditions which are not mentioned in the amendment message remain unchanged.
The cancellation of an MT 740 Authorisation to Reimburse takes the form of an amendment. The MT 747 must therefore be used.
There are special fields for amendments to the date of expiry and for increases or decreases in the amount of the documentary credit. All other amendments must be specified in field 77A.

Sample: MT 747 Amendment to an Authorisation to Reimburse SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 747
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
LC543217890
30 : Date of Original Authorisation to Reimburse
130819
31E : New Date of Expiry
131230
32B : Increase of Documentary Credit Amount
USD5000
34B : New Documentary Credit Amount After Amendment
USD55000
End of Message Text/Trailer

MT 742 Reimbursement Claim

Ozgur Eker (CDCS) MT 742 Reimbursement Claim, Swift Messages 8 October 20186 April 2019MT 742 Reimbursement Claim, Swift, Swift Messages

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.

What is MT 742 Reimbursement Claim?

MT 742 is a swift message type that is sent by the paying/negotiating bank to the bank authorized to reimburse the Sender for its payments/negotiations.

It is used to claim reimbursement of payment(s) or negotiation(s) under a documentary credit, as relevant to the reimbursing bank.

On below table you can find detailed explanations of the fields used under MT 742 Reimbursement Claim swift messages.

MT 742 Reimbursement Claim

Status	Tag	Field Name
M	20	Claiming Bank's Reference
M	21	Documentary Credit Number
O	31C	Date of Issue
M	52a	Issuing Bank
M	32B	Principal Amount Claimed
O	33B	Additional Amount Claimed as Allowed for in Excess of Principal Amount
M	71B	Charges
M	34a	Total Amount Claimed
O	57a	Account With Bank
O	58a	Beneficiary Bank
O	72	Sender to Receiver Information
		O : Optinal M : Mandatory

Sample: MT 742 Reimbursement Claim SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 742
Receiver : OELBATSW
Message Text
20 : Claiming Bank’s Reference
LC543217890
21 : Documentary Credit Number
IM-DOC 123/2563789
31C : Date of Issue
130622
52A : Issuing Bank
ITSLBE55
32B : Principal Amount Claimed
EUR45000
71B : Charges
/COMM/EUR300,
34B : Total Amount Claimed
EUR45300
57A : Account With Bank
ROTTNL2A
58A : Beneficiary Bank
/700-122433 ROTTNL55
End of Message Text/Trailer

MT 740 Authorisation to Reimburse

Ozgur Eker (CDCS) MT 740 Authorisation to Reimburse, Swift Messages 8 October 20186 April 2019MT 740 Authorisation to Reimburse, Swift, Swift Messages

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.

What is MT 740 Authorisation to Reimburse?

MT 740 is a special swift message type that is sent by the issuing bank to the reimbursing bank.

It is used to request the Receiver to honour claims for reimbursement of payment(s) or negotiation(s) under a documentary credit.

The MT 740 authorizes the reimbursing bank to debit the account of the Sender, or one of the Sender’s branches if so indicated, for reimbursements effected in accordance with the instructions in the MT 740.

On below table you can find explanations regarding the fields used under MT 710 swift messages.

You can also reach individual pages of each field by clicking the corresponding links.

MT 740 Authorisation to Reimburse

Status	Tag	Field Name
M	20	Documentary Credit Number
O	25	Account Identification
M	40F	Applicable Rules
O	31D	Date and Place of Expiry
O	58a	Negotiating Bank
O	59	Beneficiary
M	32B	Credit Amount
O	39A	Percentage Credit Amount Tolerance
O	39B	Maximum Credit Amount
O	39C	Additional Amounts Covered
M	41a	Available With ... By ...
O	42C	Drafts at ...
O	42a	Drawee
O	42M	Mixed Payment Details
O	42P	Deferred Payment Details
O	71A	Reimbursing Bank's Charges
O	71B	Other Charges
O	72	Sender to Receiver Information
		O : Optinal M : Mandatory

MT 740 Network Validated Rules

C1 Either field 39A or 39B, but not both, may be present.
C2 When used, fields 42C and 42a must both be present.
C3 Either fields 42C and 42a together, or field 42M alone, or field 42P alone may be present. No other combination of these fields is allowed.
C4 Either field 58a or 59, but not both, may be present.

Sample: MT 740 Authorisation to Reimburse SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 740
Receiver : OELBATSW
Message Text
20 : Documentary Credit Number
LC543217890
40F : Applicable Rules
URR LATEST VERSION
32B : Credit Amount
USD45000
41A : Available With … By …
NOMISESW BY ACCEPTANCE
71A : Reimbursing Bank’s Charges
CLM
72 : Sender to Receiver Information
RESTRICTED TO CLAIMING BANK’S ACCEPTANCE COMMISSION
End of Message Text/Trailer

MT 734 Advice of Refusal

Ozgur Eker (CDCS) MT 734 Advice of Refusal, Swift Messages 8 October 20186 April 2019MT 734 Advice of Refusal, Swift, Swift Messages

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.

What is MT 734 Advice of Refusal?

MT 734 message is sent by the issuing bank to the bank from which it has received documents related to a documentary credit.

It may also be sent by the bank nominated to pay/accept/negotiate/incur a deferred payment undertaking to the bank from which it has received documents.

It is used to advise the Receiver that the Sender considers the documents, as they appear on their face, not to be in accordance with the terms and conditions of the credit and that, consequently, it refuses them for the discrepancies stated.

The Sender also provides the Receiver with details regarding the disposal of the documents.

This message type may also be used for claiming a refund.

MT 734 Advice of Refusal

Status	Tag	Field Name
M	20	Sender's TRN
M	21	Presenting Bank's Reference
M	32A	Date and Amount of Utilisation
O	73	Charges Claimed
O	33a	Total Amount Claimed
O	57a	Account With Bank
O	72	Sender to Receiver Information
M	77J	Discrepancies
M	77B	Disposal of Documents
		O : Optinal M : Mandatory

MT 734 Advice of Refusal Network Validated Rules

C1 If field 73 is present, field 33a must also be present.
C2 The currency code in the amount fields 32A and 33a must be the same.

Sample: MT 734 Advice of Refusal SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 734
Receiver : OELBATSW
Message Text
20 : Sender’s TRN
EXP54321
21 : Presenting Bank’s Reference
IMP145322
32A : Date and Amount of Utilisation
130921GBP100000
73 : Charges Claimed
YOUR CHARGES GBP 100, CABLE GBP30, INTEREST GBP20,
33A : Total Amount Claimed
130927GBP100150
77J : Discrepancies
PARTIAL SHIPMENT EFFECTED ORIGINAL COMMERCIAL INVOICE NOT PRESENTED
77B : Disposal of Documents
/HOLD/
End of Message Text/Trailer

MT 732 Advice of Discharge

Ozgur Eker (CDCS) MT 732 Advice of Discharge, Swift Messages 8 October 20186 April 2019MT 732 Advice of Discharge, Swift, Swift Messages

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.

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

Status	Tag	Field
M	20	Sender's TRN
M	21	Presenting Bank's Reference
M	30	Date of Advice of Payment/Acceptance/ Negotiation
M	32B	Amount of Utilisation
O	72Z	Sender to Receiver Information
		M = Mandatory, O = Optional

MT 730 Acknowledgement

Ozgur Eker (CDCS) MT 730 Acknowledgement, Swift Messages 8 October 20186 April 2019MT 730 Acknowledgement, Swift, Swift Messages

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.

What is MT 730 Acknowledgement?

MT 730 is a special swift message type that is used used to acknowledge receipt of any documentary credit message.

When applicable, it may also explicitly indicate that the message has been forwarded according to instructions.

This message type may also be used: to account for bank charges and to advise of acceptance or rejection of an amendment of a credit.

MT 730 Acknowledgement

Status	Tag	Field Name
M	20	Sender's Reference
M	21	Receiver's Reference
O	25	Account Identification
M	30	Date of Message Being Acknowledged
O	32a	Amount of Charges
O	57a	Account With Bank
O	71B	Charges
O	72	Sender to Receiver Information
		O : Optinal M : Mandatory

MT 730 Network Validated Rules

C1 Either field 25 or 57a, but not both, may be present.
C2 If field 32D is present, field 57a must not be present.

Sample 1: MT 730 Acknowledgement SWIFT Message

SWIFT Message
Sender : EXPOBA2L
Message Type : 730
Receiver : IMBANL2A
Message Text
20: Sender’s Reference
IMP125658
21: Receiver’s Reference
ZAP82123
30: Date of Message Acknowledged
020621
72: Sender to Receiver Information
AT BENEFICIARY’S REQUEST WE ADDED OUR CONFIRMATION WE SHALL SETTLE OUR CHARGES LATER.
End of Message Text/Trailer

Sample 2 : MT 730 Acknowledgement SWIFT Message

SWIFT Message
Sender : AMCONL2A
Message Type : 730
Receiver : OELBATSW
Message Text
20 : Sender’s Reference
IMP145322
21 : Receiver’s Reference
EXP54321
30 : Date of Message Acknowledged
130821
32B : Amount of Charges
EUR420
57A : Account With Bank
CORBATSW
71B : Charges
/COMM/EUR400,/CABLE/EUR20,
72 : Sender to Receiver Information
WE ADDED OUR CONFIRMATION PLEASE PAY FOR ACCOUNT NUMBER 75016375 AT CORBATSW.
End of Message Text/Trailer