12.4.1.11 MT 712 Demand for payment under Guarantee / Standby Letter of Credit – C2B

The Demand for payment under Guarantee / Standby LC is sent by the corporate (Beneficiary) to its bank and comprises at least two MT 798 messages.

These messages are used to demand payment under a guarantee and includes a request to extend the expiry date and to indicate availability of supporting documentation.

Format Specifications

MT 798<712> - Claim for payment under Guarantee / Standby Letter of Credit Section 1 - MT 798 Structure

Field Tag Field Name Format Mandatory/ Optional
20 Transaction Reference Number 16x M
12 Sub-Message Type 3!n M
77E Proprietary Message 73z (Text) [n*78z (Text) M
Section 2 – Field 77E Structure
Field Tag Field Name Format Mandatory/ Optional
27A Message Index/ Total 1!n/1!n (Message Index)/(Total) M
21A Customer Reference Number 16x M
20 Guarantee/Credit Number 16x M
31C Date of Issue 6!n (Date) M
13E Message Creation Date Time 8!n4!n (Date)(Time) M
52a Issuing/Guarantor Bank

A [/1!a][/34x] (Party Identifier) 4!a2!a2!c[3!c]
(Identifier Code)
D [/1!a][/34x]
(Party Identifier)
4*35x (Name &
Address)

O
32B Guarantee/Credit Amount 3!a15d (Currency)( Amount) M
39D Amount Claimed 3!a15d (Currency)( Amount) M
49J Beneficiary Statement 50*65x (Narrative) M
57a Account With Bank

A [/1!a][/34x] (Party Identifier) 4!a2!a2!c[3!c] (Identifier Code)
                                        B [/1!a][/34x] (Party Identifier) [35x] (Location) D [/1!a][/34x] (Party Identifier) 4*35x (Name & Address)

O
53C Settlement Account /34x (Account) O
25A Alternative Charges Account /34x (Account) O
29A Customer Contact 4*35x (Narrative) O
72C Corporate to Bank Information 6*35x (Narrative) O
23X Presentation Channel 4!c/65x (Code)(Narrative) M
29S Customer Identifier 4!c/35x (Code)(Party Identifier) O
29P Processing Bank Identifier 35x (Party Identifier) O
29U Lead Bank Identifier 35x (Party Identifier) O