MT 505 Field Specifications
26. Field 17B: Flag: Ownership Flag
FORMAT
Option B |
:4!c//1!a |
(Qualifier) (Flag) |
PRESENCE
Optional in a conditional (C3) subsequence.
QUALIFIER
(Error code(s): T89)
Order |
M/O |
Qualifier |
R/N |
CR |
Options |
Qualifier Description |
1 |
O |
OWNF |
N |
|
B |
Ownership Flag |
DEFINITION
This qualified generic field specifies:
OWNF |
Ownership Flag |
This field indicates whether the collateral giver owns the collateral or not. |
CODES
Flag must contain one of the following codes (Error code(s): K17):
N |
No |
The collateral giver doesn't own the collateral. |
Y |
Yes |
The collateral giver owns the collateral. |
USAGE RULES
The bilateral agreement should include whether the ownership flag is part of the eligibility criteria. If it is part of the eligibility criteria, the ownership flag should be present, otherwise it is not needed.