MT 710 Field Specifications

2. Field 40B: Form of Documentary Credit

FORMAT

Option B

24x 24x

(Type) (Code)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit and whether or not the Sender is adding its confirmation to the credit.

CODES

Type must contain one of the following codes (Error code(s): T64):

IRREVOCABLE	The documentary credit is irrevocable.
REVOCABLE	The documentary credit is revocable.
IRREVOCABLE TRANSFERABLE	The documentary credit is irrevocable and transferable.
REVOCABLE TRANSFERABLE	The documentary credit is revocable and transferable.
IRREVOCABLE STANDBY	The standby letter of credit is irrevocable.
REVOCABLE STANDBY	The standby letter of credit is revocable.
IRREVOC TRANS STANDBY	The standby letter of credit is irrevocable and transferable.

CODES

Code must contain one of the following codes (Error code(s): T66):

ADDING OUR CONFIRMATION	The Sender is adding its confirmation to the credit.
WITHOUT OUR CONFIRMATION	The Sender is not adding its confirmation to the credit.

USAGE RULES

Details of any special conditions applying to the transferability of the credit and/or the bank authorised to transfer the credit in a freely negotiable credit should be included in field 47A Additional Conditions.