Purchase & Procurement

F32B is a mandatory field in M700 type SWIFT msg. This field mentions the currency code and amount of the Letter of Credit. This amount […]

Field 43T Transhipment is an optional field in MT700 type SWFT msg. This field indicates whether the Transhipment is allowed or not under this letter […]

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 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 is an optional field in MT700 SWIFT message. This field specifies the Applicant bank if it’s different from the Issuing bank. […]

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 […]

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 […]

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 […]

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 form is a Letter of Credit Authorization Form. It is used to allow opening LC (Letter of Credit) to import from abroad. Though LCAF […]