 Option A |
4!a2!a2!c[3!c]14x |
(Identifier Code)(Code) |
| Option D |
4*35x14x |
(Name and Address)(Code) |
Mandatory
This field identifies the bank with which the credit is available (the place for presentation) and an indication of how the credit is available.
In option A, or D, Code must contain one of the following codes (Error code(s): T68):
| BY ACCEPTANCE |
|
| BY DEF PAYMENT |
|
| BY MIXED PYMT |
|
| BY NEGOTIATION |
|
| BY PAYMENT |
|
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).
For credits subject to eUCP:
If presentation of both electronic records and paper documents is allowed, the place for presentation of the electronic records (that is, the electronic address to which presentation must be made) as well as the place for presentation of the paper documents must be specified in field 47A and not in this field.
If presentation of only electronic records is allowed, the place for presentation of the electronic records (that is, the electronic address to which presentation must be made) must be specified in field 47A and not in this field.
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 field 42P and 42M.
When Code contains BY PAYMENT, this should be understood to mean payment at sight.
