{"id":2692,"date":"2018-10-03T21:49:18","date_gmt":"2018-10-04T01:49:18","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=2692"},"modified":"2019-04-06T11:17:33","modified_gmt":"2019-04-06T15:17:33","slug":"field-49-confirmation-instructions","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/10\/03\/field-49-confirmation-instructions\/","title":{"rendered":"Field 49: Confirmation Instructions"},"content":{"rendered":"<p><strong>What is Field 49: Confirmation Instructions?<\/strong><\/p>\n<p>Field 49: Confirmation Instructions is a field in MT 700 swift message type that contains confirmation instructions for the Receiver.<\/p>\n<p>This is a mandatory field.<\/p>\n<p>According to current letter of credit rules;<\/p>\n<ul>\n<li>confirmation means a definite undertaking of the confirming bank, in addition to that of the issuing bank, to honour or negotiate a complying presentation.<\/li>\n<li>confirming bank means the bank that adds its confirmation to a credit upon the issuing bank&#8217;s authorization or request. As a result banks can not add their confirmations to the letter of credit without having a confirmation request by the issuing banks.<\/li>\n<li>a confirming bank is irrevocably bound to honour or negotiate as of the time it adds its confirmation to the credit.<\/li>\n<\/ul>\n<p><strong>MT 700<\/strong><br \/>\n<strong>Field 49: Confirmation Instructions:<\/strong><br \/>\n<strong>DEFINITION<\/strong><br \/>\nThis field contains confirmation instructions for the Receiver.<\/p>\n<p><strong>CODES<\/strong><\/p>\n<ul>\n<li>One of the following codes must be used.<\/li>\n<li>CONFIRM The Receiver is requested to confirm the credit.<\/li>\n<li>MAY ADD The Receiver may add its confirmation to the credit.<\/li>\n<li>WITHOUT The Receiver is not requested to confirm the credit.<\/li>\n<\/ul>\n","protected":false},"excerpt":{"rendered":"<p>What is Field 49: Confirmation Instructions? Field 49: Confirmation Instructions is a field in MT 700 swift message type that contains confirmation instructions for the Receiver. This is a mandatory field. According to current letter of credit rules; confirmation means<\/p>\n","protected":false},"author":1,"featured_media":2697,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[273,231],"tags":[308,276,238,239],"class_list":["post-2692","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-mt-700-issue-of-a-documentary-credit","category-swift-messages","tag-field-49-confirmation-instructions","tag-mt-700-issue-of-a-documentary-credit","tag-swift","tag-swift-messages"],"_links":{"self":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/2692","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/comments?post=2692"}],"version-history":[{"count":0,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/posts\/2692\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media\/2697"}],"wp:attachment":[{"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/media?parent=2692"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/categories?post=2692"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.letterofcredit.biz\/index.php\/wp-json\/wp\/v2\/tags?post=2692"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}