1. Messaging System User Guide
  2. Processing SWIFT Messages
  3. Guarantees and Standby Letter of Credit
  4. SWIFT 2023 Changes
  5. MT (766/769) - Advice of Guarantee / Standby Letter of Credit Reduction or Release

12.4.2.21 MT (766/769) - Advice of Guarantee / Standby Letter of Credit Reduction or Release

The Advice of Guarantee / Standby LC Reduction or Release is sent to the corporate (Applicant/Accountee) by their bank and comprises at least two MT 798 messages.

These messages advises the reduction in or release of liability for the specified amount, for either a previously issued Guarantee or a previously issued Standby Letter of Credit.

This comprises of two MT798 messages .The first sub message is identified by the sub message type 766. The second MT 798 message identified with a sub-message type of 769 and enveloping one MT 769 message. The existing bank-to-bank MT 769 message specification is used.

Maximum Length : 10000

MT 798<766> - Advice of Guarantee / Standby Reduction or Release Index

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 O
21T Customer Business Reference 16x M
21P Bank Reference Number 16x M
21S Bank Business Reference 16x M
20 Undertaking Number 16x M
13E Message Creation Date Time 8!n4!n (Date)(Time) M
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] (Identifier Code) O
29U Lead Bank Identifier 4!a2!a2!c[3!c] (Identifier Code) O
MT 798<769> - Advice of Guarantee / Standby Reduction or Release Details
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
27A Message Index/Total

1!n/1!n

(Message

Index)/(Total)

 M
21P Bank Reference Number 16x M
MT 769 Message M
20 Transaction Reference Number 16x M
21 Related Reference 16x M
30 Date of Reduction or Release 6!n O
32a Amount of Charges

B 3!a15d

D 6!n3!a15d

 O
33B Amount Reduced or Released 3!a15d O
34B Amount Outstanding 3!a15d O
39C Amount Specification 4*35x O
57a Account with Bank
  • A [/1!a][/34x] (Party Identifier)
  • B [/1!a][/34x] (Party Identifier)

D [/1!a][/34x]

(Party Identifier)

4*35x(Name and Address)

 O
71D Details of Charges 6*35z O
72Z Sender to Receiver Information 6*35z O
23X File Identification /4!c/65x O

Parent topic: SWIFT 2023 Changes