MT 707

MT-707 - FIELD DESCRIPTION AND MEANING OF CODES

Field Definition

This field specifies the number of this message in the series of messages sent for a documentary credit, and the total number of messages in the series.

Abbreviation of codes / Related conditions

serial number of message / total number of message for this LC

Field Definition

This field specifies the reference assigned by the Sender to unambiguously identify the message.

Field Definition

This field contains the reference number assigned to the documentary credit by the Receiver of the message.

Abbreviation of codes / Related conditions

NONREF: Receiver's reference is not known

Field Definition

This field specifies the documentary credit number which was assigned by the issuing bank.

Field Definition

This field is used to identify the issuing bank, when different from the Sender of the message

Field Definition

This field specifies the non-bank issuer of the credit

Field Definition

This field specifies the date of the original issue of the documentary credit, that is, the date on which the issuing bank considers the documentary credit as being issued.

Abbreviation of codes / Related conditions

YYMMDD

Field Definition

This field specifies the sequence number that identifies this amendment

Field Definition

This field specifies the date on which the issuing bank considers the documentary credit as being amended

Abbreviation of codes / Related conditions

YYMMDD

Field Definition

This field specifies the purpose of this message

Field Definition

This field specifies that the instrument is requested to be cancelled.

Abbreviation of codes / Related conditions

Any bank in ... (city or country) the credit is to be freely negotiable by any bank (that city / country)
BY PAYMENT mean payment at sight
BY DEF PAYMENT the specific details of the payment termsmust be specified in field 42P
BY MIXED PYMT the specific details of the payment termsmust be specified in field 42M
BY ACCEPTANCE payment commitment will be made at some future date as per LC terms

Field Definition

This field specifies the advising bank

Field Definition

This field identifies the bank, if different from the Receiver, through which the documentary credit amendment is to be advised to the beneficiary.

Field Definition

This field specifies the new party in favour of which the documentary credit is issued.

Field Definition

This field specifies the new, that is, revised, expiry date for presentation under the documentary credit.

Field Definition

This field contains the currency and amount of an increase in the documentary credit amount

Abbreviation of codes / Related conditions

ALLOWED Allowed under the documentary credit.
CONDITIONAL Conditional based on conditions specified elsewhere in the message.
NOT ALLOWED Not allowed under the documentary credit.

Field Definition

This field contains the currency and amount of a decrease in the documentary credit amount.

Field Definition

This field specifies amendments to any additional amounts covered, such as insurance, freight, interest, etc.

Field Definition

This field specifies amendments to the port of loading or airport of departure to be indicated on the transport document.

Field Definition

This field specifies the final destination or place of delivery to be indicated on the transport document.

Field Definition

This field specifies amendments to the place of final destination or place of delivery to be indicated on the transport document

Abbreviation of codes / Related conditions

YYMMDD

Field Definition

This field specifies amendments to the latest date for loading on board/dispatch/taking in charge.

Field Definition

This field contains a description of the goods and/or services

Field Definition

This field contains a description of any documents required

Field Definition

This field contains a description of further conditions of the documentary credit.

Field Definition

This field specifies the party responsible for this amendment charge.

Field Definition

This field specifies the new number of calendar days after the date of shipment within which the documents must be presented for payment, acceptance or negotiation. Narrative should only be used to specify another type of date than a shipment date, for example invoice date, from which the period for presentation begins.

Field Definition

This field contains confirmation instructions for the Receiver (advising bank).

Abbreviation of codes / Related conditions

AGENT Agent's Commission
COMM Our Commission
CORCOM Our Correspondent's Commission
DISC Commercial Discount
INSUR Insurance Premium
POST Our Postage
STAMP Stamp Duty
TELECHAR Tele transmission Charges
WAREHOUS Wharfing and Warehouse

Field Definition

Bank which is requested to add its confirmation or may add its confirmation.

Abbreviation of codes / Related conditions

The absence of this field means that the presentation period is 21 days after the date of shipment, where applicable.

Field Definition

This field specifies the party responsible for payment of the confirmation charges.

Abbreviation of codes / Related conditions

CONFIRM The requested confirmation party is requested to confirm the credit
MAY ADD The requested confirmation party may add its confirmation to the credit
WITHOUT No confirmation is requested

Field Definition

This field specifies special payment conditions applicable to the receiving bank without disclosure to the beneficiary, for example, post-financing request/conditions for receiving bank only.

Field Definition

This field specifies instructions to the paying, accepting or negotiating bank.

Field Definition

This field specifies additional information for the Receiver

Field Definition

PHONBEN (Telephone beneficiary) : Please advise/contact beneficiary by phone.
TELEBEN (Telecommunication Please) : advise the beneficiary by the most efficient means of telecommunication.

M = Mandatory, O = Optional