MT 400 Field Specifications

7. Field 54a: Receiver's Correspondent

FORMAT

Option A	[/1!a][/34x] 4!a2!a2!c[3!c]	(Party Identifier) (BIC)
Option B	[/1!a][/34x] [35x]	(Party Identifier) (Location)
Option D	[/1!a][/34x] 4*35x	(Party Identifier) (Name & Address)

PRESENCE

Optional

DEFINITION

Where required, this field specifies the branch of the Receiver, or another bank, at which the proceeds of the collection will be made available to the Receiver.

NETWORK VALIDATED RULES

The BIC must be a SWIFT registered address, either connected or non-connected (Error code(s): T27, T28, T29, T45).

The BIC must not be a BEI. Please refer to the latest version of the BIC Directory - Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05).

USAGE RULES

The absence of field 53a and/or field 54a means that the single direct account relationship between the Sender and the Receiver, in the currency of the credit, will be used to remit the collection proceeds.