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 750 Advice of Discrepancy?<\/strong><\/p>\n MT 750 is a swift message type that is sent by the bank to which documents have been presented, to the issuing bank.<\/p>\n It may also be sent to a bank nominated to pay\/accept\/negotiate\/incur a deferred payment undertaking.<\/p>\n 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.<\/p>\n 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.<\/p>\nMT 750 Advice of Discrepancy<\/h3><\/div>