MT 720 Field Specifications

2. Field 40B: Form of Documentary Credit

FORMAT

Option B

24x 24x

(Type) (Code)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit and whether or not the Sender is adding its confirmation to the credit.

CODES

Type must contain one of the following codes (Error code(s): T64):

IRREVOC TRANS STANDBY	The standby letter of credit is irrevocable and transferable
IRREVOCABLE	The documentary credit/standby letter of credit is irrevocable
REVOCABLE	The documentary credit/standby letter of credit is revocable

CODES

Code must contain one of the following codes (Error code(s): T66):

ADDING OUR CONFIRMATION	The Sender is adding its confirmation to the credit
WITHOUT OUR CONFIRMATION	The Sender is not adding its confirmation to the credit