Swift is a provider of secure message platform for financial institutions mainly for banks.<\/p>\n
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.<\/p>\n
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.<\/p>\n
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.<\/p>\n
What is MT 710 Advice of a Third Bank’s or a Non-Bank’s Documentary Credit?<\/strong><\/p>\n MT 710 is a special swift message type that is used by an advising bank, which has received a documentary credit from the issuing bank or the non-bank issuer, to the bank advising the beneficiary or another advising bank.<\/p>\n Advising banks use MT 710 Advice of a Third Bank’s or a Non-Bank’s Documentary Credit swift message type to advise the receiver about the terms and conditions of a documentary credit.<\/p>\n On below table you can find explanations regarding the fields used under MT 710 swift messages.<\/p>\n You can also reach individual pages of each field by clicking the corresponding links.<\/p>\nMT 710 Advice of a Third Bank’s or a Non-Bank’s Documentary Credit<\/h3><\/div>