MT 600 Field Specifications

10. Field 87a: Receiver of the Metal

FORMAT

Option A	[/1!a][/34x] 4!a2!a2!c[3!c]	(Party Identifier) (BIC)
Option B	[/1!a][/34x] [35x]	(Party Identifier) (Location)
Option D	[/1!a][/34x] 4*35x	(Party Identifier) (Name & Address)

PRESENCE

Mandatory in an optional sequence

DEFINITION

This field identifies the party at which the Sender will receive the metal bought.

NETWORK VALIDATED RULES

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

The BIC must not be a BEI. Please refer to the latest version of the BIC Directory - Corporations for more information on BEIs. This error code applies to all types of BICs referenced in a FIN message including SWIFT BICs, non-SWIFT BICs, Masters, Synonyms, Live destinations and Test & Training destinations. (Error code(s): C05).

USAGE RULES

When the Receiver services a metal account (ie, an account for the metal specified in field 26C) for the Sender, and this account is to be credited, option A should be used and the field must contain the Receiver's BIC.

When the Sender services a metal account (ie, an account for the metal specified in field 26C) for the Receiver and this account is to be debited, option A should be used and the field must contain the Sender's BIC.

In forward contracts, if the receiver of the metal is not known, the code UNKNOWN must appear in this field, using option D.