12.4.2.22 MT 714 Acknowledgment of demand for payment under Guarantee / Standby Letter of Credit –B2C
The acknowledgment of demand for payment under Guarantee / Standby LC is sent to the corporate (Beneficiary) by its bank and comprises one MT 798 message.
It acknowledges the receipt of a demand under a Guarantee / Standby LC, and provides further instructions and/or information as appropriate.
Format Specifications
Section 2 – Field 77E Structure
MT 798<714> - Acknowledgment of demand 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 |
| Field Tag | Field Name | Format | Mandatory/ Optional |
|---|---|---|---|
| 27A | Message Index/ Total | 1!n/1!n (Message Index)/(Total) | M |
| 21P | Bank Reference Number | 16x | M |
| 21S | Bank Business Reference | 16x | M |
| 20 | Undertaking Number | 16x | M |
| 21A | Customer Reference Number | 16x | M |
| 21T | Customer Reference Number | 16x | M |
| 31C | Date of Issue | 6!n (Date) | M |
| 13E | Message Creation Date Time | 8!n4!n (Date)(Time) | M |
| 32B | Guarantee/Credit Amount | 3!a15d (Currency)( Amount) | M |
| 31S | Date of Claim | 6!n (Date) | M |
| 39D | Amount Claimed | 3!a15d (Currency)( Amount) | M |
| 78B | Instructions from the Bank | 50*65x (Narrative) | M |
| 29B | Bank Contact | 4*35x (Narrative) | M |
| 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 2023 Changes