MT 503 Field Specifications

3. Field 23G: Function of the Message

FORMAT

Option G

4!c[/4!c]

(Function) (Subfunction)

PRESENCE

Mandatory

DEFINITION

This field identifies the function of the message.

CODES

Function must contain one of the following codes (Error code(s): T86):

CANC	Cancellation Request	This is a request to cancel a previously sent collateral claim.
NEWM	New	New message.
NEWM	New	This is a new collateral claim.

CODES

Subfunction, when present, must contain one of the following codes (Error code(s): T85):

CODU	Copy Duplicate	This claim is being sent as a copy to a party other than the original Receiver, for information purposes. It is a duplicate of a claim previously sent.
COPY	Copy	The message is being sent as a copy to a party other than the original Receiver, for information purposes.
DUPL	Duplicate	The message is for information purposes. It is a duplicate of a claim previously sent.

USAGE RULES

To cancel a previously sent claim, Function is CANC. The reference in the previous reference field must contain the Sender's Reference of the message to be cancelled. A copy of at least the mandatory fields of the message to be cancelled must be present; optional fields need not be present for SWIFT validation.