MT 705 Field Specifications

10. Field 41a: Available With... By...

FORMAT

Option A	4!a2!a2!c[3!c] 14x	(BIC) (Code)
Option D	4*35x 14x	(Name & Address) (Code)

PRESENCE

Optional

DEFINITION

This field identifies the bank authorised to pay, accept, negotiate or incur a deferred payment undertaking for the credit, and an indication of how the credit is available.

CODES

Code must contain one of the following codes (Error code(s): T68):

BY PAYMENT

BY ACCEPTANCE

BY NEGOTIATION

BY DEF PAYMENT

BY MIXED PYMT

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

If the credit is to be freely negotiable by any bank, option D must be used with the phrase 'Any bank in... (city or country)'.

If the credit is to be freely negotiable by any bank anywhere in the world, an indication of country is not required.

When Code contains 'BY PAYMENT', this should be understood to mean 'payment at sight'.