1. Messaging System User Guide
  2. Processing SWIFT Messages
  3. Guarantees and Standby Letter of Credit
  4. SWIFT 2023 Changes
  5. MT 760 (Guarantee / Standby Letter Of Credit)

12.4.2.1 MT 760 (Guarantee / Standby Letter Of Credit)

Issues or requests the issue of a guarantee or Standby LC.

Maximum Length: 10000

Format Specifications

Mandatory Sequence A General Information

Field Tag Field Name Format Mandatory/ Optional
15A New Sequence Empty field M
27 Sequence of Total 1!n/1!n M
22A Purpose of Message 4!c M
72Z Sender to Receiver Information 6*35z O
23X File Identification 4!c/65x O

Mandatory Sequence B Undertaking Details

Field Tag Field Name Format Mandatory/ Optional
15B New Sequence Empty field M
20 Undertaking Number 16x M
30 Date of Issue 6!n M
22D Form of Undertaking 4!c M
40C Applicable Rules 4!a/[35x] M
23B Expiry Type 4!c M
31E Date of Expiry 6!n O
35G Expiry Condition/Event 12*65x O
50 Applicant 4*35x O
51 Obligor/Instructing Party 4*35x O
52a Issuer A or D M
59a Beneficiary No letter option or A M
56a Advising Bank A or D O
23 Advising Bank Reference 16x O
57a Advise Through' Bank A or D O
32B Undertaking Amount 3!a15d M
39F Supplementary Information About Amount 12*65z O
71D Charges 6*35z O
45C Document and Presentation Instructions 100*65z O
77U Undertaking Terms and Conditions 150*65z M
49 Confirmation Instructions 7!x O
58a Requested Confirmation Party A or D O
44J Governing Law /Jurisdiction 2!a//35x][65x] O
23F Automatic Extension Period 4!a/[34x] O
78 Automatic Extension Non- Extension Notification 12*65x O
26E Automatic Extension Notification Period 3n O
31S Automatic Extension Final Expiry Date 6!n O
48B Demand Indicator 4!c O
48D Transfer Indicator 4!c O
39E Transfer Conditions 12*65z O
45L Underlying Transaction Details 50*65z O
24E Delivery of Original Undertaking /4!c/[35x] O
24G Delivery To/Collection By /4!c/[12*65z] O
Optional Sequence C Local Undertaking Details
Field Tag Field Name Format Mandatory/ Optional
15C New Sequence Empty field M
31C Requested Date of Issue 6!n O
22D Form of Undertaking 4!c M
40C Applicable Rules 4!a/[35x] M
22K Type of Undertaking 4!c/[35x] O
23B Expiry Type 4!c M
31E Date of Expiry 6!n O
35G Expiry Condition/Event 12*65x O
50 Applicant 4*35x M
51 Obligor/Instructing Party 4*35x O
52a Issuer A or D O
59 Beneficiary [/ 34x]4*35x M
32B Undertaking Amount 3!a15d M
39F Supplementary Information About Amount 12*65z O
57a Advise Through Bank A or D O
71D Charges 6*35z O
45C Document and Presentation Instructions 100*65z O
77L Requested Local Undertaking Terms and Conditions 150*65z O
22Y Standard Wording Required 4!c O
40D Standard Wording Requested Language 2!a O
44J Governing Law /Jurisdiction 2!a/[/35x][65x] O
23F Automatic Extension Period 4!a/[34x] O
78 Automatic Extension Non- Extension Notification 12*65x O
26E Automatic Extension Notification Period 3n O
31S Automatic Extension Final Expiry Date 6!n O
48B Demand Indicator 4!c O
48D Transfer Indicator 4!c O
39E Transfer Conditions 12*65z O
45L Underlying Transaction Details 50*65z M
24E Delivery of Local Undertaking 4!c/[35x] O
24G Delivery To/Collection By /4!c/[12*65z] O
New FFTs are introduced for below tags of MT760 to capture FFT details specific to Local Undertaking:

Length validations, Format validations and Character validations supported for below FFTs:

Tag Sequence B Sequence C
44J 44JGOVRNLAW 44JGOVERNLWC
24E 24EDELORGUND 24EDELORGC
24G 24GDELORCOLL 24GDELCOLLC
FFT Code
SND2RECMT760
23XFILEIDENT
44JGOVRNLAW
45LTRNDTLS
24EDELORGUND
22KTYPEOFUND
45CDOCPRSDTL
45LTRNDTSEQC

Note:

  • The ISPR (The guarantee is subject to International Standby Practices) additional type codes are allowed for field 40 C
  • The URCG (The guarantee is subject to the ICC Uniform Rules for Demand Guarantees) type codes are disallowed for field 40 C

Parent topic: SWIFT 2023 Changes