{"id":2870,"date":"2018-10-11T15:01:37","date_gmt":"2018-10-11T19:01:37","guid":{"rendered":"http:\/\/www.letterofcredit.biz\/?p=2870"},"modified":"2019-04-06T10:52:17","modified_gmt":"2019-04-06T14:52:17","slug":"mt-769-advice-of-reduction-or-release","status":"publish","type":"post","link":"https:\/\/www.letterofcredit.biz\/index.php\/2018\/10\/11\/mt-769-advice-of-reduction-or-release\/","title":{"rendered":"MT 769 Advice of Reduction or Release"},"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 769 Advice of Reduction or Release?<\/strong><\/p>\n

This message is sent by a bank which has received a guarantee to the bank which has issued the guarantee.<\/p>\n

It may also be sent by a bank which has been requested to issue a guarantee to the bank which requested the issuance of the guarantee.<\/p>\n

This message may also be used for Standby Letters of Credit.<\/p>\n

It is used to advise the Receiver that it has been released of all liability for the amount specified in field 33B or field 39C.<\/p>\n

The Sender’s charges may also be accounted for in this message.<\/p>\n

MT 769 Advice of Reduction or Release<\/h3><\/div>