MT 103 STP Field Specifications

4. Field 23E: Instruction Code

FORMAT

Option E

4!c[/30x]

(Instruction Code)(Additional Information)

PRESENCE

Conditional (see rule C3)

DEFINITION

This field specifies an instruction.

CODES

Instruction Code must contain one of the following codes (Error code(s): T48):

CORT	Corporate Trade	Payment is made in settlement of a trade, for example, foreign exchange deal, securities transaction.
INTC	Intra-Company Payment	A payment between two companies belonging to the same group.
REPA	Related Payment	Payment has a related e-Payments reference.
SDVA	Same Day Value	Payment must be executed with same day value to the beneficiary.

NETWORK VALIDATED RULES

Additional Information is only allowed when Instruction Code consists of the following code: REPA (Error code(s): D97).

If this field is repeated, the codes must appear in the following order (Error code(s): D98):

SDVA

INTC

REPA

CORT

When this field is used more than once, the following combinations are not allowed (Error code(s): D67).

REPA with CORT

If this field is repeated, the same code word must not be present more than once (Error code(s): E46).

USAGE RULES

This field may be repeated to give several coded instructions to one or more parties.

Code REPA indicates that the payment is the result of an initiation performed via an e-payments product between the customers. This code is intended for the beneficiary's bank who should act according to the specifications of the e-payments product.