MT 700 Issue of a Letter of Credit

MT 700 Issue of a Letter of Credit

The field MT 700 is given below:

Here Field O means Optional and Field M means Mandatory

Field M 27: Sequence of Total
Field M 40A: Form of Documentary Credit
Field M 20: Documentary Credit Number
Field O 23: Reference to Pre-Advice
Field O 31C : Date of Issue
Field M 40E : Applicable Rules
Field M 31D : Date and Place of Expiry
Field O 51a : Applicant Bank
Field M 50 : Applicant
Field M 59 : Beneficiary
M 32B : Currency Code, Amount
Field O 39A:  Percentage Credit Amount Tolerance
Field O 39B : Maximum Credit Amount
Field O 39C : Additional Amounts Covered
M 41a : Available With … By …
Field O 42C:  Drafts at …
Field O 42a : Drawee
Field O 42M : Mixed Payment Details
Field Field O 42P : Deferred Payment Details
Field O 43P : Partial Shipments
Field O 43T : Transshipment
Field O 44A : Place of Taking in Charge/Dispatch from …/Place of Receipt
Field O 44E : Port of Loading/Airport of Departure
Field O 44F : Port of Discharge/Airport of Destination
Field O 44B : Place of Final Destination/For Transportation to
…/Place of Delivery
Field O 44C : Latest Date of Shipment
Field O 44D : Shipment Period
Field O 45A : Description of Goods and/or Services
Field O 46A : Documents Required
Field O 47A : Additional Conditions
Field O 71B : Charges
Field O 48 : Period for Presentation
Field M 49 : Confirmation Instructions
Field O 53a : Reimbursing Bank
Field O 78 : Instructions to the Paying/Accepting/Negotiating Bank
Field O 57a : ‘Advise Through’ Bank
Field O 72 : Sender to Receiver Information
Field O : Optional

Field M : Mandatory

Field M 27: Sequence of Total
Field M 40A: Form of Documentary Credit
Field M 20: Documentary Credit Number
Field M 40E : Applicable Rules
Field M 31D : Date and Place of Expiry
Field M 50 : Applicant
Field M 59 : Beneficiary
M 32B : Currency Code, Amount
M 41a : Available With … By …
Field M 49 : Confirmation Instructions

Field O : Optional

Field O 23: Reference to Pre-Advice
Field O 31C : Date of Issue
Field O 51a : Applicant Bank
Field O 39A:  Percentage Credit Amount Tolerance
Field O 39B : Maximum Credit Amount
Field O 39C : Additional Amounts Covered
Field O 42C:  Drafts at …
Field O 42a : Drawee
Field Field O 42P : Deferred Payment Details
Field O 43P : Partial Shipments
Field O 43T : Transshipment
Field O 44A : Place of Taking in Charge/Dispatch from …/Place of Receipt
Field O 44E : Port of Loading/Airport of Departure
Field O 44F : Port of Discharge/Airport of Destination
Field O 44B : Place of Final Destination/For Transportation to
…/Place of Delivery
Field O 44C : Latest Date of Shipment
Field O 44D : Shipment Period
Field O 45A : Description of Goods and/or Services
Field O 46A : Documents Required
Field O 47A : Additional Conditions
Field O 71B : Charges
Field O 48 : Period for Presentation
Field O 53a : Reimbursing Bank
Field O 78 : Instructions to the Paying/Accepting/Negotiating Bank
Field O 57a : ‘Advise Through’ Bank
Field O 72 : Sender to Receiver Information

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Sample of SWIFT Letter of Credit sender : SOCIAL ISLAMI BANK LIMITED (PRINCIPAL BRANCH, DHAKA) BANGLADESH . receiver : ICICI BANK LIMITED (GLOBAL TRADE SERVICES UNIT-MUMBAI) IN . 27: Sequence …

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