Option A4!a2!a2!c[3!c]14x(BIC)(Code)Option D4*35x14x(Name & Address)(Code)| Option A |
4!a2!a2!c[3!c]14x |
(BIC)(Code) |
| Option D |
4*35x14x |
(Name & Address)(Code) |
Mandatory
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.
Code must contain one of the following codes (Error code(s): T68):
BY ACCEPTANCE
BY DEF PAYMENT
BY MIXED PYMT
BY NEGOTIATION
BY PAYMENT
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).
For credits subject to eUCP:
If presentation of both electronic records and paper documents is allowed, the place for presentation of the electronic records (ie, the electronic address to which presentation must be made) as well as the place for presentation of the paper documents must be specified in field 47A and not in this field.
If presentation of only electronic records is allowed, the place for presentation of the electronic records (ie, the electronic address to which presentation must be made) must be specified in field 47A and not in this field.
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 either 'BY DEF PAYMENT' or 'BY MIXED PYMT', the specific details of the payment terms must be specified in fields 42P and 42M respectively.
When Code contains 'BY PAYMENT', this should be understood to mean 'payment at sight'.
