12.1 SWIFT Advices in BC Module
Table 12-1 SWIFT Advices in BC Module
| Event | EVENTDESCRIPTION | SWIFT | Tag | Advice Description |
|---|---|---|---|---|
| LIQD | Advice of Payment | MT400 | COLL_PAY_AD V | This message type is sent by the collecting bank to the remitting
bank.
It may also be sent: on behalf of the collecting bank by its branch/affiliate bank to the remitting bank or branch/affiliate of that Bank by a collecting bank to another collecting bank. It is used to advise a payment under a collection or a part thereof and may also be used for the settlement of proceeds. The account relationship between the Sender and the Receiver is used, unless expressly stated otherwise in the message. This message must never be sent to a bank acting solely as a reimbursement bank. In this case, the appropriate message type is an MT 202 Financial Institution Transfer. |
| BOOK & | Acknowledgme nt | MT410 | ACKNOWLED GEMENT | This message type is sent by a collecting bank to a remitting
bank to acknowledge the receipt of a collection. A collecting bank
may also send it to another collecting bank.
Unless otherwise expressly stated, this message type states the collecting bank intends to act by the collection instruction. |
| BACP | Advice of acceptance | MT412 | ACCEPTANCE _ADV | The collecting bank sends this message type to the remitting bank. A collecting bank may also send it to another collecting bank. They are used to inform the receiver of the acceptance of one or more drafts under one collection instruction. |
| PRN&PRN P | Advice of Non-Payment Non- Acceptance | MT 416 | PROTEST_NO NACPT | The collecting bank sends this message type to the remitting
bank.
It may also be sent: To the remitting bank via another financial institution. By a presenting bank to a collecting bank - use to advise of non-payment or non-acceptance under a previously received collection or part. |
| TACP | Tracer | MT 420 |
ACCEPTANCE _TRCR PAYMENT_TR CR DISCAPPRVL_ TRCR REL_OF_RES_ TRCR PAYMNTFATE_ TRCR ACCPT_- FATE_TRCR |
The remitting bank sends this message type to the collecting bank. A collecting bank may also send it to another collecting bank. It is used enquire about the fate of documents sent for collection. |
| PFAT & AFAT | Advice of Fate and Request for Instructions | MT 422 | PRINCIPAL_- FATE
ACCEPTANCE _ FATE |
The collecting bank sends this message type to the remitting
bank.
A collecting may also send it bank to another collecting bank. It is used to advise the Receiver of the status of collection documents received by the collecting bank. Since the advice of fate generally includes one or more questions or requests, the two functions included in this one message type. |
| AMND | Amendment of Instructions | MT430 | AMNDMNT_ OF_INS | The remitting bank sends this message type to the collecting bank. A collecting bank may also send it to another collecting bank. This message is used to amend instructions contained in the collection. |
| Advice of Discharge | MT 732 | RESERVE_RE LEASE | The issuing bank sends this message to the paying/ negotiating or
accepting bank. It may also be sent by the paying/
accepting/negotiating bank to the bank from which it has received
documents.
It is used to advise the Receiver that the documents received with discrepancies have been taken up. |
|
| Advice of Refusal | MT 734 | PAYMENT_ REFUSAL ACCEPT_REF USAL | The issuing bank sends this message to the bank from which it has received documents related to a documentary credit. 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. | |
| BOOK | Reimbursement Claim | MT 742 | REIMBRSMNT _- CLM | This message is sent by the paying/negotiating bank to the bank authorized to reimburse the Sender for its payments/ negotiations. It is used to claim reimbursement of payment(s) or negotiation(s) under a documentary credit, as relevant to the reimbursing bank. |
| BOOK & CLOS | Notice of Non-conforming
Reimbursement Claim |
MT 744 | NCNFM_REIM _ CLM | This message is sent by the reimbursing bank to the bank, claiming reimbursement. It is used to notify the Receiver that the Sender considers the claim, on the face of it, as not to be by the instruction in the reimbursement Authorization for the reason(s) as stated in this message. The Sender also provides the Receiver with details regarding the disposal of the claim. |
| BOOK | Advice of Discrepancy | MT 750 | DISCREPANC Y_REQ | This message is sent by the bank to which documents have been presented, to the issuing bank. It may also be sent to a bank nominated to pay/accept/negotiate/incur a deferred payment undertaking. The MT 750 is a request for authorization to honor presentation. Authorization is provided using an MT 752 Authorization to Pay, Accept or Negotiate; a negative reply to the request is provided using an MT 796 Answers. |
| BOOK | Advice of Payment/ Acceptance/ Negotiation | MT 754 | ADV_PMT_AC PT | This message is sent by the paying, accepting or negotiating bank, or the bank incurring a deferred payment undertaking, to the issuing bank. The bank may also send it to which documents presented to a bank that has been nominated to pay/accept. |
| & LIQD | Advice of Reimbursemen t or Payment | MT 756 | REIM_PAY_AD V | The issuing bank sends this message 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. 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. |
Parent topic: Annexure_D