MT 300 Field Specifications

44. Field 57a: Receiving Agent

FORMAT

Option A	[/1!a][/34x] 4!a2!a2!c[3!c]	(Party Identifier) (Identifier Code)
Option D	[/1!a][/34x] 4*35x	(Party Identifier) (Name and Address)
Option J	5*40x	(Party Identification)

PRESENCE

Mandatory in conditional (see rule C3) sequence D

DEFINITION

This field identifies the financial institution and account where the payee will receive the amount specified in field 32B Currency, Amount in sequence D.

CODES

In option J, Party Identification must be specified as a list of pairs (Code)(Value) and the following codes and format must be used (Error code(s): T78).

Note that optional codes are surrounded by square brackets ('[' and ']') which are not part of the syntax.

/ABIC/	4!a2!a2!c[3!c] or 4!a	Identifier Code or 'UKWN' if BIC not known
[/ACCT/]	34x	Account number (optional)
[/ADD1/]	35x	First line of the address (optional)
[/ADD2/]	35x	Second line of the address (optional)
[/CITY/]	35x	City, possibly followed by state and country (optional)
[/CLRC/]	35x	Clearing code (optional)
[/GBSC/]	6!n	UK domestic sort code (optional)
/NAME/	34x	Party's name
[/USCH/]	6!n	CHIPS UID (optional)
[/USFW/]	9!n	FedWire Routing Number (optional)

CODES

In option J, an alternative is to specify Party Identification as the following code (Error code(s): T78):

/NETS/

Payment flows are netted based on a bilateral agreement

CODES

In option J, an alternative is to specify Party Identification as the following code (Error code(s): T78):

/SSIS/

Standing settlement instructions are used

CODES

In option D, one of the following codes may be used in Name and Address:

NET	When net settlement takes place
NONE	When no settlement is taking place
SSI	When standing settlement instructions apply
UNKNOWN	When the settlement instructions are not known

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. 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

For matching purposes, option A must be used when available.

Party Identifier in options A and D may be used to indicate a CHIPS Universal Identifier. When used, it must be preceded by a double slash '//', and the code CH and 6 digits.

See the chapter Guidelines for this MT.