MT 405 Field Specifications

45. Field 17F: Interest Indicator

FORMAT

Option F

1!a

PRESENCE

Mandatory in an optional subsequence

DEFINITION

This field indicates whether the presenting bank may waive collection interest should the drawee refuse to pay these.

CODES

One of the following codes must be used (Error code(s): T36):

Y	The presenting bank may waive collection interest.
N	The presenting bank may not waive collection interest.