12.3.9 MT 721 Transfer of a Documentary Credit
When a beneficiary has requested the transfer of a documentary credit - originally issued by a bank or a non-bank - to a second beneficiary, this message is sent by the bank authorized to advise the transfer of the documentary credit, to the bank advising the second beneficiary.
It is used to advise the Receiver about the terms and conditions of the transferred documentary credit, or part thereof.
The message is sent in addition to an MT 720 Transfer of a Documentary Credit, when the information in the documentary credit exceeds the maximum input message length of the MT 720.
Maximum Length: 10000
"As per SWIFT November 2018, system should support below specifications for extension messages ( MT721 ):
- Maximum of 7 extension messages can be generated
- Tag 45A can appear in more than one message (either in MT700 or in multiple MT701s).
- Tag 45A should not repeat more than once in a single message
- Tag 45A can have 6500 characters (100*65z)
- Size limitation of Tag 45A, in theory, could be 8 x 100 x 65, some 52,000 characters.
- If details provided for Description of goods, Description of documents, Additional conditions, Special Payment conditions for Beneficiary and Special Payment conditions for Receiving Bank exceeds 80000 characters, all messages (MT700 and MT701s) should go in repair.
- Adoption of the extended Z Character Set for long fields, includes fields 45, 46, 47 and 49
Parent topic: Documentary Credits