MT 405 Field Specifications

40. Field 50K: Avalising Party

FORMAT

Option K

[/34x] 4*35x

(Party Identifier) (Name & Address)

PRESENCE

Mandatory in a conditional subsequence (C6)

DEFINITION

This field specifies, for the individual transaction in this occurrence of sequence B, the name and address of the avalising party, or guarantor, whose aval the accepted bill(s) of exchange already bear(s). It may also indicate the account number of the bank servicing the avalising party's account. The avalising party, or guarantor, may be an individual, a corporate, a financial institution, etc.

USAGE RULES

Any additional information regarding the aval may be indicated in field 72, using the code word 'AVAL'.