This message type is typically sent by the collecting bank to the remitting bank. It may also be sent:

• on behalf of the collecting bank by its branch/affiliate bank to the remitting bank or branch/affiliate of that bank
• by a collecting bank to another collecting bank.

It is used to advise a payment under a collection or a part thereof and may also be used for the settlement of proceeds. The account relationship between the Sender and the Receiver is used, unless expressly stated otherwise in the message.

This message must never be sent to a bank acting solely as a reimbursement bank. In this case, the appropriate message type is an MT 202 Financial Institution Transfer.
Maximum Length: 2000