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MT 305 Field Specifications

21. Field 37K: Premium Price

FORMAT

Option K 3!a12d (Currency)(Rate)

PRESENCE

Mandatory in mandatory sequence A

DEFINITION

This field specifies either the currency and amount of the premium price or the rate which is used to calculate the premium amount.

NETWORK VALIDATED RULES

Currency must be a valid ISO 4217 currency code or the code PCT (Error code(s): T52).

The integer part of Rate must contain at least one digit. A decimal comma is mandatory and is included in the maximum length (Error code(s): T40,T43).

USAGE RULES

Rate can be expressed in the form of a percentage or in the form of points per unit of either currency amount. When the rate is expressed in the form of a percentage, Currency must contain PCT. When the rate is expressed in the form of points per unit of either currency amount, the currency code must be specified in Currency.