This chapter contains the following details:
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 |
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. |
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. |