{"id":2773,"date":"2018-10-08T01:24:06","date_gmt":"2018-10-08T05:24:06","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=2773"},"modified":"2019-04-06T11:16:27","modified_gmt":"2019-04-06T15:16:27","slug":"mt-730-acknowledgement","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/10\/08\/mt-730-acknowledgement\/","title":{"rendered":"MT 730 Acknowledgement"},"content":{"rendered":"

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 730 Acknowledgement?<\/strong><\/p>\n

MT 730 is a special swift message type that is used used to acknowledge receipt of any documentary credit message.<\/p>\n

When applicable, it may also explicitly indicate that the message has been forwarded according to instructions.<\/p>\n

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.<\/p>\n

MT 730 Acknowledgement<\/h3><\/div>