MT 103 REMIT Field Specifications

2. Field 13C: Time Indication

FORMAT

Option C

/8c/4!n1!x4!n

(Code)(Time indication)(Sign)(Time offset)

PRESENCE

Optional

DEFINITION

This repetitive field specifies one or several time indication(s) related to the processing of the payment instruction.

CODES

One of the following codes may be used in Code, placed between slashes ('/'):

CLSTIME	CLS Time	The time by which the funding payment must be credited, with confirmation, to the CLS Bank's account at the central bank, expressed in Central European Time (CET).
RNCTIME	Receive Time	The time at which a TARGET2 payment was credited at the receiving central bank, expressed in Central European Time (CET).
SNDTIME	Send Time	The time at which a TARGET2 payment was debited at the sending central bank, expressed in Central European Time (CET).

CODES

One of the following codes must be used in Sign (Error code(s): T15):

+	Plus	The + sign.
-	Minus	The - sign.

NETWORK VALIDATED RULES

Time indication must be a valid time expressed as HHMM (Error code(s): T38).

Time offset is expressed as 'HHMM', where the hour component, that is, 'HH', must be in the range of 00 through 13, and the minute component, that is, 'MM' must be in the range of 00 through 59. Any 'HH' or 'MM' component outside of these range checks will be disallowed (Error code(s): T16).

USAGE RULES

The time zone in which Time is expressed is to be identified by means of the offset against the UTC (Coordinated Universal Time - ISO 8601).