SWIFTStandards FIN - Category 5 - MT 548

MT 548 Field Specifications

33. Field 95a: Party

FORMAT

Option P	:4!c//4!a2!a2!c[3!c]	(Qualifier) (BIC/BEI)
Option R	:4!c/8c/34x	(Qualifier) (Data Source Scheme) (Proprietary Code)
Option Q	:4!c//4*35x	(Qualifier) (Name & Address)
Option C	:4!c//2!a	(Qualifier) (Country Code)

PRESENCE

Optional

QUALIFIER

(Error code(s): T89)

Order	M/O	Qualifier	R/N	Options	Qualifier Description
1	O	MEOR	N	P, Q, R	Originator of Message
2	O	MERE	N	P, Q, R	Recipient of Message
3	O	INVE	N	P, Q, R, C	Investor

DEFINITION

This qualified generic field specifies:

MEOR	Originator of Message	Party which originated the message if other than the sender. eg, the originator may not have access to a network, and therefore must use a Sender to transmit a message.
MERE	Recipient of Message	Party which is the final destination of the message, if different from the Receiver. eg, when the message is being sent as a copy, this field may show the original receiver.
INVE	Investor	Party, either an individual or organisation, whose assets are being invested.
~~INVE~~	~~Investor~~	~~Party identified as the investor.~~

BIC specifies the Bank Identifier Code. BEI specifies the Business Entity Identifier.

Proprietary Code specifies a local national code or market segment code identifying the party.

NETWORK VALIDATED RULES

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

Proprietary code (Format Option R) and Name & Address (Format Option Q) must not start or end with a slash '/' and not contain two consecutive slashes '//'. For field formats with more than 1 line, the rule applies for each line (Error code(s): T26).

USAGE RULES

The qualifier INVE is to be used only when the investor cannot be a trade counterparty for legal reasons, eg, in Japan where the trust bank arranges the deal with the broker.

When INVE is used with option C, the country code specifies the nationality of the investor, for the settlement of certain securities (i.e. airlines, defence manufacturers) under the EU legislation.