MT 305 Field Specifications

23. Field 53a: Sender's Correspondent

FORMAT

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

PRESENCE

Optional in mandatory sequence A

DEFINITION

This field identifies the financial institution from which the payer will transfer the premium amount specified in field 34P to the account with institution.

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 connected BICs, non-connected BICs, Masters, Synonyms, Live destinations and Test & Training destinations (Error code(s): C05).

USAGE RULES

This field is used when the premium is to be paid by the Sender of the message.

Field 53a is used only when the payer wants to inform the payee where the funds come from.

See the chapter Guidelines for this MT.