12.4.2.16 MT (762/760/761) - Notification of Draft or Issue of Guarantee/ Standby Letter of Credit/ Undertaking
The Notification of Draft or Issue of Guarantee / Standby LC / Undertaking is sent to the corporate by its bank and comprises at least two MT 798 messages. This comprises of at least two MT798 messages. The first sub message is identified by the sub message type 762. The second MT 798 message identified with a sub-message type of 760 and enveloping one MT 760 message. The existing bank-to-bank MT 760 message specification is used. In addition, up to a maximum of seven MT 798 messages may optionally be included, each identified with a sub-message type of 761 and enveloping one MT 761 message. The existing bank-to-bank MT 761 message specification is used.
- Notifying the applicant about Guarantee / Standby Letter of Credit/ Undertaking issued.
- Notifying the applicant about a request to a third bank for the issuance of a Guarantee / Standby Letter of Credit/ Undertaking initiation.
Format Specifications for Index Message (MT 762)
MT798<762> - Notification of Guarantee / Standby LC / Undertaking Index
| Field Tag | Field Name | Format | Mandatory /Optional |
|---|---|---|---|
| Section 1 - MT 798 Structure | |||
| 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 | |||
| 27A | Message Index/ Total | 1!n/1!n (Message Index)/(Total) | M |
| 21A | Customer Reference Number | 16x | M |
| 21T | Customer Business Reference | 16x | M |
| 21P | Bank Reference Number | 16x | M |
| 21S | Bank Business Reference | 16x | M |
| 20 | Undertaking Number | 16x | O |
| 25F | Text Purpose | 5!c | M |
| 12K | Draft Text Version | 2!n (Number) | O |
| 13E | Message Creation Date Time | 8!n4!n (Date)(Time) | M |
| 49Z | Special Agreements | 50*65z (Narrative) | O |
| 29B | Bank Contact | 4*35x (Narrative) | O |
| 72Z | Bank to Corporate Information | 6*35z (Narrative) | O |
| 23X | File Identification | /4!c/65x (Code)(File Name or Reference) | O |
| 29S | Customer Identifier | 4!c/35x (Code)(Party Identifier) | O |
| 29P | Processing Bank Identifier |
4!a2!a2!c[3!c] |
O |
| 29U | Lead Bank Identifier |
4!a2!a2!c[3!c] |
O |
| Field Tag | Field Name | Format | Optional/ Mandatory |
|---|---|---|---|
| Section 1 - MT 798 Structure | |||
| 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 [MT 760] | |||
| 27A | Message Index/Total |
1!n/1!n (Message Index)/ (Total) |
M |
| 21P | Bank Reference Number | 16x | M |
| MT 760 Message | M | ||
| 22D | Form of Undertaking | 4!c | |
| Field Tag | Field Name | Format | Optional/ Mandatory |
|---|---|---|---|
| Section 1 - MT 798 Structure | |||
| 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 [MT 761] | |||
| 27A | Message Index/Total |
1!n/1!n (Message Index)/ (Total) |
M |
| 21P | Bank Reference Number | 16x | M |
| MT 761 Message | M | ||
Parent topic: SWIFT 2023 Changes