{"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 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 <\/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 <\/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 <\/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 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":"\nAvailable With…<\/h2>\n
By…<\/h2>\n