The remitting bank sends MT430 to the collecting bank or by the collection bank to any other collection bank. Upload of MT430 triggers amendment of the bill contract. Note that upload is supported only for collections. To derive the contract reference number on which action needs to be triggered, the system first fetches the contract reference number of the bill contract using field 21 of the message. If the reference is not found, then the system will fetch the bill reference using the user reference number in field 21. If the reference to is not found, then the system will fetch the bill reference using our LC reference in field 21. If field 21 has the value ‘NONREF’, the system will fetch the bill reference using the ‘Their reference’ (field 20) from the ‘Bills and Collections Contract Input – Parties’ screen. The BIC of the sender will be used for identifying the party for which their reference needs to be fetched. If the reference is not found, then the system will fetch the bill reference using their LC reference (field 21). The new maturity date and bill amount are fetched from fields 33A or 33K. The value date of the amendment is always the application date.

If the message has got a repetitive sequence and the same reference number is mentioned in both tag 21 then the message will be sent to repair.

The system creates a new version of the bill after amendment upload.

During STP processing of MT430 if the underlying contract is in Initial stage, then amendment of the bill is done as normal, and if it is in Final stage, then the rebate amount is populated.

STP of MT430 results in authorized or unauthorized liquidation record based on the post upload status you have maintained in the ‘Upload Source Preferences’ screen.