{"id":26541,"date":"2019-07-06T11:06:22","date_gmt":"2019-07-06T11:06:22","guid":{"rendered":"http:\/\/scmwizard.com\/?p=26541"},"modified":"2021-06-03T05:14:33","modified_gmt":"2021-06-03T05:14:33","slug":"field-41d-and-41a-letter-of-credit-lc","status":"publish","type":"post","link":"https:\/\/scmwizard.com\/field-41d-and-41a-letter-of-credit-lc\/","title":{"rendered":"Field 41D and 41A (Available With… By…) in Letter of Credit (LC)"},"content":{"rendered":"

You must be familiar with this field as because it’s mandatory in Letter of Credit MT700 Swift message<\/a>.<\/p>\n

Available With…<\/h2>\n

It indicates the bank for the presentation of documents. So the beneficiary<\/a> identifies where the credit will be available upon presentation.<\/p>\n

There are two formats:<\/p>\n

41A –\u00a0<\/strong>This is mentioned where the nominated bank is identified by BIC\u00a0<\/strong>(Bank Identified Code) AKA Swift code.<\/strong><\/a><\/p>\n

\"41A<\/p>\n

In the above example, the nominated bank SWIFT code is mentioned. That means the beneficiary has to submit the documents in that bank to get the payment.<\/p>\n

41Afield is being used as the bank SWIFT code is mentioned there.<\/p>\n

41D<\/strong> – This is mentioned where the nominated bank is identified by name and address.<\/p>\n

If the bank is fixed then the bank name and detail address is mentioned. In the case of ‘non-restricted’ type “Any Bank in …” can be mentioned. That means the beneficiary can submit a document to any bank of their country.<\/p>\n

If the country is not mentioned then the document can be presented to any bank (borderless).<\/p>\n

\"41D<\/p>\n

Here the bank is used “Any Bank in China”. So 41D field is being used.<\/p>\n

This is an example of a Letter of Credit at sight<\/strong>.<\/p>\n

Another example of Letter of Credit UPAS\u00a0<\/strong>type. Check below:<\/p>\n

\"41D<\/p>\n

In most of the cases advising bank<\/a>\u00a0<\/strong>is the negotiating bank\/presenting bank if the beneficiary does not use another bank than the advising bank.<\/p>\n

By…<\/h2>\n

This field indicates how the credit is available. It can be either by acceptance, by payment or others.<\/p>\n

So, here several options are available.<\/p>\n

BY NEGOTIATION<\/p>\n

BY PAYMENT<\/p>\n

BY ACCEPTANCE<\/p>\n

BY MIXED PYMT<\/p>\n

BY DEF PAYMENT<\/p>\n

In the above example, I’ve shown “BY NEGOTIATION”. In case of “at sight L\/C” or “UPAS L\/C<\/a>” you can use “BY NEGOTIATION”.<\/p>\n

BY PAYMENT also you can use for at sight payment.<\/p>\n

I’ve shown some examples from several Import LC’s at Bangladesh where the LC is made available “BY NEGOTIATION” in both cases of “sight LC” and “UPAS (Usance Payable at sight) LC”.<\/p>\n

Don’t hesitate to share your thoughts. If you have any confusion of this field, let me know by comment below.<\/em><\/p>\n","protected":false},"excerpt":{"rendered":"

You must be familiar with this field as because it’s mandatory in Letter of Credit MT700 Swift message. Available With… It indicates the bank for […]<\/a><\/p>\n","protected":false},"author":1,"featured_media":26542,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2856],"tags":[],"yoast_head":"\nField 41D and 41A (Available With... By...) in Letter of Credit (LC) - SCM Wizard<\/title>\n<meta name=\"description\" content=\"Field 41D or 41A is mandatory field in MT700 type SWIFT message of LC (Letter of Credit). 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