MT 740 Field Specifications

11. 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

Mandatory

DEFINITION

This field identifies the bank(s) authorised to claim reimbursement. It is followed by how the credit is available eg, by payment, by acceptance, etc.

CODES

One of the following codes must be used in subfield 2, ie, 14x (Error code(s): T68):

BY ACCEPTANCE

BY DEF PAYMENT

BY MIXED PYMT

BY NEGOTIATION

BY PAYMENT

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 either 'BY DEF PAYMENT' or 'BY MIXED PYMT', the specific details of the payment terms must be specified in fields 42P and 42M.

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