SWIFT MT 700

SWIFT MT 700 is a standardized message format for issuing documentary letters of credit. It specifies terms and conditions, including payment obligations and delivery details.

Fields included:

• 27: Sequence of Total (e.g., 1/1)
• 40A: Form of Documentary Credit (e.g., irrevocable)
• 20: Documentary Credit Number (e.g., L/C #123456)
• 31C: Date of Issue (e.g., 20231012)
• 40E: Applicable Rules (e.g., UCP 600)
• 31D: Date and Place of Expiry (e.g., 20231231, New York)
• 50: Applicant (e.g., Buyer’s company details)
• 59: Beneficiary (e.g., Seller’s company details)
• 32B: Currency Code and Amount (e.g., USD 100000)
• 41D: Available with/by (e.g., Any bank by negotiation)
• 42C: Drafts at (e.g., 30 days sight)
• 42A: Drawee (e.g., Issuing bank details)
• 44A: Place of Taking in Charge/Dispatch (e.g., Hong Kong)
• 44E: Port of Loading (e.g., Hong Kong)
• 44F: Port of Discharge (e.g., Los Angeles)
• 44C: Latest Date of Shipment (e.g., 20231130)
• 45A: Description of Goods and/or Services (e.g., Electronics, 100 units)
• 46A: Documents Required (e.g., Commercial invoice, Bill of Lading)
• 47A: Additional Conditions (e.g., Certificate of Origin)
• 71B: Charges (e.g., All bank charges for applicant)

Each field in SWIFT MT 700 has a specific format, eliminating ambiguity and ensuring clear communication between financial institutions.