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 752 Authorisation to Pay, Accept or Negotiate?<\/strong><\/p>\n 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.<\/p>\n It is used to advise the Receiver that documents may be taken up, notwithstanding the discrepancies, provided they are otherwise in order.<\/p>\nMT 752 Authorisation to Pay, Accept or Negotiate<\/h3><\/div>