Field 31C Date of Issue in Letter of Credit
This is a mandatory field in MT700 type SWIFT msg. This field indicates the date on which the LC is being issued by the Issuing […]
Field 49 Confirmation Instructions in Letter of Credit
Field 49 Confirmation instructions is a mandatory field in MT700 type SWIFT msg. This field contains confirmation instructions for the LC receiver. According to SWIFT […]
Field 51a Applicant Bank in Letter of Credit
Field 51a Applicant Bank is an optional field in MT700 SWIFT message. This field specifies the Applicant bank if it’s different from the Issuing bank. […]
Field 43P Partial Shipments in Letter of Credit
F43P is an optional field in a Letter of Credit. This field specifies whether the partial shipment is to be allowed or not in this […]
Field 40E: Applicable Rules in Letter of Credit
F40E: Applicable rules are a mandatory field in MT700 SWIFT message. This field specifies the rules which is followed by this LC is issued. This […]
The role of blockchain technology in the logistic industry
Blockchain is one of the most progressive technological trends in recent years. The reason for this popularity is the development of cryptocurrencies. But it would […]
Field 59 Beneficiary in Letter of Credit (LC)
F59: Beneficiary is a mandatory field in MT700 SWIFT message. This field specifies the party on which favor the LC is issued. Like the Applicant in the […]
MT700 SWIFT Message in Documentary Credit
SWIFT is a secure message platform used by banks. There are various types of SWIFT messages used in different cases. Here we are discussing MT700 […]
LCAF (Letter of Credit Authorization Form)
LCAF form is a Letter of Credit Authorization Form. It is used to allow opening LC (Letter of Credit) to import from abroad. Though LCAF […]
Activities of the Value Chain Explained
The creation of a product or service involves a full range of activities or steps between conception and distribution. This includes raw material procurement and […]