12.4.1.12 MT 778 Response to extend or pay Guarantee / Standby Letter of Credit – C2B
The Response to Extend or Pay Guarantee is sent by the corporate (Applicant) to their bank and comprises one MT 798 message.
This message is used by the Applicant in response to a Query to Extend or Pay Guarantee / Standby LC under a specified Guarantee / Standby LC and to indicate instructions to either extend the Guarantee/ Standby LC or pay the Guarantee / Standby LC.
Format Specifications
Section 2 – Field 77E Structure
MT 798<778> - Response to extend or pay 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 |
| 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 |
| 13E | Message Creation Date Time | 8!n4!n (Date)(Time) | M |
| 31C | Date of Extend or Pay Request | 6!n (Date) | M |
| 39D | Amount Claimed | 3!a15d (Currency)( Amount) | O |
| 31L | New Validity Expiry Date | 6!n (Date) | O |
| 22M | Extend or Pay Instructions | 4!c (Code) | M |
| 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 | File Identification | 4!c/65x (Code)(Narrative) | O |
| 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 |
Parent topic: SWIFT 2018 Changes