MT 103+ Field Specifications

4. Field 23E: Instruction Code

FORMAT

Option E

4!c[/30x]

(Instruction)

PRESENCE

Conditional (C3)

DEFINITION

This field specifies an instruction.

CODES

Instruction must contain one of the following codes (Error code(s): T48):

SDVA	Payment must be executed with same day value to the beneficiary.
INTC	The payment is an intra-company payment, ie, a payment between two companies belonging to the same group.
REPA	Payment has a related e-Payments reference.
CORT	Payment is made in settlement of a trade, eg, foreign exchange deal, securities transaction.

NETWORK VALIDATED RULES

Additional Information is only allowed when Instruction Code consists of the following code: REPA (Error code(s): D97).

If this field is repeated, the codes must appear in the following order (Error code(s): D98):

SDVA

INTC

REPA

CORT

When this field is used more than once, the following combinations are not allowed (Error code(s): D67).

REPA

with

CORT

If this field is repeated, the same code word must not be present more than once (Error code(s): E46).

USAGE RULES

This field may be repeated to give several coded instructions to one or more parties.

Code REPA indicates that the payment is the result of an initiation performed via an e-payments product between the customers. This code is intended for the beneficiary's bank who should act according to the specifications of the e-payments product.