16. Annexure C - SWIFT Category 7 Messages

This chapter contains the following details:

16.1 List of SWIFT Messages

The following messages are supported in the LC module.

Message Event Message Type in FLEXCUBE Message Description Generated On Message Information
MT 700 BISS, REIN, REIS, AMND, ROPN LC_IN­STRU­MENT L/C Instru­ment On open­ing Import LC It is used to indicate the terms and conditions of a documentary credit which has been originated by the Sender (issuing bank). This message is sent by the issuing bank to the advising bank.
MT 701 BISS, REIN, REIS, AMND, ROPN LC_IN­STRU­MENT L/C Instru­ment - Con­tinuation On open­ing Import LC Continuation of an MT 700 for fields 45a, 46a and 47a This message is sent by the issuing bank to the advising bank.
MT 705 BISS, REIS LC_PRE_ADVICE L/C Pre-Advice On open­ing Import LC It is a brief advice of a doc­umentary credit, the full details of which will follow. The pre-advice is not an operative credit instrument. Unless otherwise stated, the issuing bank must for­ward the operative credit instrument, that is, MT 700 Issue of a Documentary credit, without delay. This message is sent by the issuing bank to the advising bank.
MT 707 AMND, REIN, AMND LC_AMN­D_INSTR LC Amend­ment Instru­ment Import LC Amend­ment It is used to inform the Receiver about amend­ments to the terms and conditions of a documen­tary credit issued by the Sender or by a third bank. The amendment is to be considered as part of the documentary credit, unless the MT 707 is used to con­vey only brief details of the amendment, details of which are to follow. This message is sent by the issuing bank to the advising bank. It may also be sent by an advising bank to another advising bank or by a transferring bank to an advising bank.
MT 710 BADV, BANC ADV_THIRD_BANK Advice of a Third Bank's Documen­tary Credit Export LC Advise It is used to advise the Receiver of the terms and conditions of a documen­tary credit issued by a third bank.
MT 711 BADV, BANC ADV_THIRD_BANK Advice of a Third Bank's Documen­tary Credit - Continuation Export LC Advise Continuation of an MT 710 for fields 45a, 46a and 47a
MT 720 TRNF TRANS­FER_LC Transfer of a Documen­tary Credit Export LC Advise It is used to advise the transfer of a documentary credit, or part thereof, to the bank advising the sec­ond beneficiary.
MT 721 TRNF TRANS­FER_LC Transfer of a Documen­tary Credit - Continuation Export LC Advise Continuation of an MT 720 for fields 45a, 46a and 47a
MT 730 BPRE, BADV, BANC, BCFM, AMND, APAD,APAC & AATC LC_ACK_ADVICE Acknowl­edgement Export LC Advise This message is used to acknowledge receipt of any documentary credit mes­sage. When applicable, it may also explicitly indicate that the message has been forwarded according to instructions. This message type may also be used: to account for bank charges to advise of acceptance or rejection of an amendment of a credit
MT 732 INIT RESERVE_RE­LEASE Advice of Discharge When Dis­crepan­cies are accepted by the drawee, the negoti­ating bank is informed. It is used to advise that documents received with discrepancies have been taken up.
MT 734 REFP PAY­MENT_REFUSAL / ACCEPT_REFUSAL Advice of Refusal When Bills are received with dis­crepan­cies, the negotiat­ing bank is refused payment/accept­ance It is used to advise the refusal of documents that are not in accordance with the terms and conditions of a documentary credit.
MT 740 BISS LC_AU­TH_RE­IMB Authoriza­tion to Reim­burse, Amendment to Authoriza­tion to Reim­burse Import LC Opening It is used to request the Receiver to honour claims for reimbursement of pay­ment(s) or negotiation(s) under a documentary credit. The MT 740 authorises the reimbursing bank to debit the account of the Sender, or one of the Sender's branches if so indicated, for reimbursements effected in accordance with the instructions in the MT 740. This message is sent by the issuing bank to the reimbursing bank.
MT 742 INIT REIM­BRSMNT_CLM Reimburse­ment Claim When Export Bills are negoti­ated, a claim is sent to the Reimburs­ing bank. It is used to provide a reim­bursement claim to the bank authorized to reim­burse the Sender or its branch for its payments/negotiations.
MT 747 BISS LC_AM­D_AU­TH_REB Amendment to an Authorisa­tion to Reim­burse Import LC Amend­ment It is used to inform the Receiver about amend­ments to the terms and conditions of the credit rel­evant to the authorisation to reimburse. The amendment is to be considered as part of the authorisation to reimburse. This message is sent by the bank which has issued an authorisation to reim­burse (issuing bank) to the reimbursing bank.
MT 750 BOOK DISCREP­ANCY_REQ Advice of Discrepancy When Export Bills are negoti­ated, and if the same contains discrepan­cies, request for approval is sent to the LC open­ing bank It is used to advise of dis­crepancies and request authorisation to honour documents presented that are not in accordance with the terms and conditions of the documentary credit.
MT 752 INIT DISCREP­ANCY_AUT Authorisa­tion to Pay, Accept or Negotiate When an import LC is booked It is used to advise a bank which has requested authorisation to pay, accept, negotiate or incur a deferred payment under­taking that the presentation of the documents may be honoured, notwithstanding the discrepancies, pro­vided they are otherwise in order.
MT 754 INIT ADV_P­MT_ACPT Advice of Payment/Acceptance/Negotiation During ini­tiation of Export Bill It is used to advise that documents have been pre­sented in accordance with the terms of a documentary credit and are being for­warded as instructed. This message type also handles the payment/negotiation.
MT 756 LIQD REIM_PAY_ADV Advice of Reimburse­ment or Pay­ment On liquida­tion of an import Bill It is used to advise of the reimbursement or pay­ment for a drawing under a documentary credit in which no specific reim­bursement instructions or payment provisions were given.
MT 760 BISS, REIS, ROPN GUARAN­TEE Guarantee Instrument 1.  Request another bank to issue a guaran­tee. 2. Issue a guarantee through another bank. This message is sent between banks involved in the issuance of a guaran­tee. It is used to issue a guar­antee or to request the Receiver to issue a guar­antee.
MT 767 AMND GUA_AM­D_INSTR Guarantee Amendment 1.  Request another bank to amend a guaran­tee. 2. Amend a guaran­tee through another bank It is used to amend or request the amendment of the guarantee. This message is sent by a bank which has issued a guarantee to the bank to which the guarantee was issued. It may also be sent by a bank which has requested the issuance of a guarantee to the bank to which the request for a guarantee was sent.
MT 768 BPRE, BADV, BANC,AMND, APAD,APAC & AATC, BISS, AMND GUA_ACK_AD­VICE Acknowl­edgement of a Guaran­tee Message   It is used to acknowledge receipt of any message relating to a guarantee and, where applicable, to indicate that action has been taken according to the instructions. The Sender’s charges may also be accounted for in this message. This message type is sent by a bank which has received a guarantee to the bank which issued the guarantee or an amend­ment thereto. It may also be sent by a bank which has been requested to issue a guarantee to the bank which requested the guarantee or an amend­ment thereto. The charges amount and the charges details of the issuing bank are also pop­ulated in the MT768 mes­sage.
MT 790 N.A. N.A. Request for Payment of Charges, Interest and Other Expenses Gener­ated using Common Group Messages Option (MSD­COMMS) Requests payment of charges, interest or other expenses
MT 791 N.A. N.A. Request for cancellation of the mes­sage Gener­ated using Common Group Messages Option (MSD­COMMS) Requests the Receiver to consider cancellation of the message identified in the request
MT 792 N.A. N.A. Queries Gener­ated using Common Group Messages Option (MSD­COMMS) Requests information relat­ing to a previous message or amendment to a previ­ous message
MT 795 N.A. N.A. Answers Gener­ated using Common Group Messages Option (MSD­COMMS) Responds to a MT 795 Queries message or MT 792 Request for Can­cellation or other mes­sages where no specific message type has been provided for the response
MT 796 N.A. N.A. Proprietary Message Gener­ated using Common Group Messages Option (MSD­COMMS) Contains formats defined and agreed to between users and for those mes­sages not yet live
MT 799 N.A. N.A. Free format message Gener­ated using Common Group Messages Option (MSD­COMMS)  
MT799 GCLM GUA_­CLAIM_ADV Guarantee Claim Advice Guarantee Claim Advice It is used to advice the claim details

16.2 SWIFT Advices

This section contains the list of the SWIFT advices supported in the LC module.

EVENT EVENT DESCRIPTION SWIFT MT Tag Advice Description
BISS Issue of a Doc­umentary Credit MT 700 LC_IN­STRU­MENT This message is sent by the issuing bank to the advising bank. It is used to indicate the terms and conditions of a documentary credit which has been originated by the Sender (issuing bank).
BISS Pre-Advice of a Documentary Credit MT 705 LC_PRE_ADVICE This message is sent by the issuing bank to the advising bank. It is a brief advice of a documentary credit, the full details of which will follow. The pre-advice is not an operative credit instrument. Unless otherwise stated, the issuing bank must for­ward the operative credit instru­ment, ie, MT 700 Issue of a Documentary credit, without delay.
AMND Amendment to a Documen­tary Credit MT 707 LC_AMN­D_INSTR This message is sent by the issuing bank to the advising bank. It may also be sent by an advising bank to another advising bank or by a transferring bank to an advising bank. It is used to inform the Receiver about amendments to the terms and conditions of a documentary credit issued by the Sender or by a third bank. The amendment is to be consid­ered as part of the documentary credit, unless the MT 707 is used to convey only brief details of the amendment, details of which are to follow.
BPRE, BADV, BANC,AMND, APAD,APAC & AATC Acknowledge­ment MT 730 LC_ACK_ADVICE This message is used to acknowl­edge receipt of any documentary credit message. When applicable, it may also explicitly indicate that the mes­sage has been forwarded accord­ing to instructions. This message type may also be used: To account for bank charges To advise of acceptance or rejec­tion of an amendment of a credit.
BISS Authorisation to Reimburse MT 740 LC_AU­TH_RE­IMB This message is sent by the issuing bank to the reimbursing bank. It is used to request the Receiver to honour claims for reimbursement of payment(s) or negotiation(s) under a documentary credit. The MT 740 authorises the reim­bursing bank to debit the account of the Sender, or one of the Sender's branches if so indicated, for reim­bursements effected in accordance with the instructions in the MT 740.
BISS Amendment to an Authorisa­tion to Reim­burse MT 747 LC_AM­D_AU­TH_REB This message is sent by the bank which has issued an authorisation to reimburse (issuing bank) to the reimbursing bank. It is used to inform the Receiver about amendments to the terms and conditions of the credit relevant to the authorisation to reimburse. The amendment is to be consid­ered as part of the authorisation to reimburse.
BISS Guarantee MT 760 GUARAN­TEE This message is sent between banks involved in the issuance of a guarantee. It is used to issue a guarantee or to request the Receiver to issue a guarantee.
AMND Guarantee Amendment MT 767 GUA_AM­D_INSTR This message is sent by a bank which has issued a guarantee to the bank to which the guarantee was issued. It may also be sent by a bank which has requested the issuance of a guarantee to the bank to which the request for a guaran­tee was sent. It is used to amend or request the amendment of the guarantee.
BPRE, BADV, BANC,AMND, APAD,APAC & AATC, BISS Acknowledge­ment of a Guar­antee Message MT 768 GUA_ACK_ADVICE This message type is sent by a bank which has received a guaran­tee to the bank which issued the guarantee or an amendment thereto. It may also be sent by a bank which has been requested to issue a guarantee to the bank which requested the guarantee or an amendment thereto. It is used to acknowledge receipt of any message relating to a guaran­tee and, where applicable, to indi­cate that action has been taken according to the instructions. The Sender’s charges may also be accounted for in this message. MT768 during guarantee issuance is generated only when the coun­terparty in the guarantee contract is an applicant bank.
ALL Free format Message MT 799 NOT SUP­PORTED AT THE PROD­UCT LEVEL. CAN BE INPUT FROM MESSAG­ING MOD­ULE. Free format messages for LC which is not covered in any of the 10xx series.

16.3 Details of MT202 (General Financial Institution Trans­fer)

This section deals with the mapping between the fields in the SWIFT message MT202 and the corresponding fields in Oracle FLEXCUBE.

Field in SWIFT Description Mandatory/Optional Field in Oracle FLEXCUBE Remarks
20 Transaction Reference Number M Reference Number contract_ref_no for all module expect LC & BC. For LC & BC LCTMS_BRANCH_PARAME­TERS & BCTMS_BRANCH_PARAME­TERS
21 Related Ref­erence M Source Ref­erence no, user Refer­ence Num­ber, NON REF For uploaded contracts it is source_ref and this should not be equal to user_ref_number. For normal contracts user_ref_number. Again if user_ref = contract_Ref then "NONREF"
13C Time Indica­tion O    
32A Value Date, Currency Code, Amount M Value Date / Account Currency / Settlement Amount As entered in the front end as transfer amount
52a Ordering Institution O Ordering Institution 1 to 5 Only if sender is different than that of the Ordering insitution. The validation is done for A and B. If the value in Order­ing_instution1 is BIC code then A else B.
53a Sender's Correspond­ent O BIC Code , Address1 Is populated only when receiver <> sender's corres. It is normally the BIC code of the customer (selected based on the nostro account). This pop­ulates :53A:. If there is a main­tenance in the Recon module for Class "NOST" under exter­nal account maintenance (external_account from RETMS_EXTACC_ACCGL_­DEFN), then 53B will be popu­lated with acc number and swift address
54a Receiver's Correspond­ent O Receiver's Correspond­ent 1 to 5 Receiver's Correspondent field, this is normally null, unless filled through front end.
56a Intermediary O Intermedi­ary 1 to 5 Intermediary field, this is nor­mally null, unless filled through front end. Under "S" button third tab
57a Account With Institu­tion O Account With Institu­tion 1 to 5 Is populated only when receiver <> AWI. It is normally the BIC code as entered through front end
58a Beneficiary Institution M Beneficiary Institution 1 for cover to 5 As entered in the front end, if this only a bank transfer. If 202 is fired as a part of "cover" to a customer then this value would be the "reciver" of 100 or 103
72 Sender to Receiver Information O Sender to Receiver Information 1 to 6 In FT, Sender to receiver Info. from front end, for other mod­ule under "S" button and under message details tab. If this a part of cover then the values starting with /OCMT,/PHONBEN or /TELEIBK will form part of the this field.