12.1.23 STP of MT747 – Amendment to an Authorization to Reimburse
You can upload MT747 as an LC amendment upload. The system fetches the contract reference number on which the amendment needs to be triggered based on field 20 of the message.
It fetches the value of ‘Their reference’ field for the party ‘ISB’ using field 20. If the reference is not found then it will reject the record. The following table lists the mapping that should exist between the SWIFT tags in MT747 and the fields in the LC Contract screen:
The following table lists the mapping that should exist between the SWIFT tags in MT730 and the fields in the LC Contract screen:
The STP process creates an authorized or unauthorized amendment record based on the post upload status maintained in the ‘Upload Source Preferences’ screen. The system creates a new version of the import LC after amendment upload and triggers the ‘AMND’ event. If field 21 does not have the LC contract reference, the system will reject the record. If field 34B is present, the system will check for the following:
Table 12-20 SWIFT tags in MT747 and the fields in the LC Contract
| Status | Tag value | Description | Oracle Banking Trade Finance field value | Remarks |
|---|---|---|---|---|
| M | 20 | Documentary credit number | Reference Used for triggering amendment on LC contract | |
| O | 21 | Reimbursing bank reference | ||
| M | 30 | Date of original authorization to reimburse | ||
| O | 31E | New date of expiry | Expiry date | |
| O | 32B | Amount Increase | ||
| O | 33B | Amount decreased | ||
| O | 34B | New amount after amendment | LC amount during amend | |
| O | 39A | Percentage credit tolerance | About clause, positive and negative tolerance | If not present then about clause should be ‘None’. If present then the about clause should be ‘About’ with positive and negative tolerance |
| O | 39C | Additional amounts covered | Additional amounts covered in others tab | |
| O | 72 | Sender to receiver info | FFT | Tag 72 would be uploaded as FFT with FFT code as ‘SND2RECINFO’ and message type as ‘LC_ACK_ADVICE’. |
| O | 77A | Narrative | FFT | Tag 72 would be uploaded as FFT with FFT code as ‘NARRATIVE’ and message type as ‘LC_ACK_ADVICE’. |
- If field 32B is present, then the difference between the amount in 34B and the current LC amount should be equal to the amount in 32B.
- If field 33B is present then the difference between the current LC amount and the amount in 34B should be equal to the amount in 33B.
- The amount after amendment should not be less than availed amount.
- The new expiry date should not be before system date.
- The new amount after amendment amount should not be less than the outstanding amount.
Parent topic: Branch Parameters Details