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 756 Advice of Reimbursement or Payment?<\/strong><\/p>\n MT 756 is a special swift message type that is sent by the issuing bank to the bank from which it has received documents or by the reimbursing bank to the bank from which it has received a reimbursement claim.<\/p>\n It may also be sent by the bank nominated to pay\/accept\/negotiate\/incur a deferred payment undertaking to the bank from which it has received documents.<\/p>\n It is used to advise the Receiver about reimbursement or payment, to that bank, for a drawing under a documentary credit for which no specific reimbursement instructions or payment provisions were provided.<\/p>\n The account relationship between the Sender and the Receiver is used unless otherwise expressly stated in the message.<\/p>\nMT 756 Advice of Reimbursement or Payment<\/h3><\/div>