Glossary of Terms

In addition to the definitions which appear in the Glossary of Terms in the Standards MT General Information, the following terms apply to category 7 message types.

For any additional definitions or details, see the Uniform Rules for Bank-to-Bank Reimbursements under documentary credits (URR) and the Uniform Customs and Practice for documentary credits (UCP), International Chamber of Commerce, Paris, France.

Advising Bank   

The bank requested to advise the documentary credit.

Advising Instruction   

An instruction to the Advising Bank regarding confirmation of the documentary credit.

Amendment Date   

The date on which an amendment was issued.

Amendment Statement   

A standard phrase linking the amendment to the original documentary credit.

Amount Claimed   

The total claimed for reimbursement in a documentary credit, optionally followed by the date on which the Claiming Bank requests the amount to be placed at its disposal.

Applicant   

The party at whose request a transaction or service is to be undertaken.

Charges Authorisation   

Issuing Bank's approval to the Reimbursement Bank to honour charges.

Charges Claimed   

The charges and commissions in addition to a principal amount claimed under a documentary credit.

Claiming Bank's Reference Number   

The reference assigned by the Claiming Bank which unambiguously identifies a particular transaction.

Credit Available by   

The method by which a documentary credit will be made available.

Credit Available With   

The identification of the nominated bank at which the credit is available.

Draft Details   

Information pertaining to the draft(s) required under a documentary credit.

Endorsement of Drawings   

A record of a specific drawing on a documentary credit.

Expiry Date and Place   

The latest date and place for presentation of documents for payment, acceptance, or negotiation.

Issue Date and Place   

The date of issue of a documentary credit.

Partial Shipments   

An incomplete shipment of goods.

Place for presentation   

Under a credit subject to UCP, this means an address where the paper documents should be presented. Under a credit subject to eUCP, this means an electronic address where the electronic records should be presented.

Presentation Period   

The period of time after the date of the issuance of the transport document within which documents must be presented for action.

Shipping   

Information as to where the goods must be shipped/loaded on board/dispatched/taken in charge and to which destination they must be transported.

Transshipment   

The shipment of goods between two points other than the original point of shipment.

Transport Details   

The method whereby the goods were loaded on board, dispatch and taken in charge, and to which destination they have been transported.