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CODES USED IN FIELD 77B MT 734

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QUESTION

Dear Mr. Old Man,

I see that the following codes can be used in Field 77B of MT 734: /HOLD/, /NOTIFY/, /PREVINST/ and /RETURN/.

Would you kindly explain to me in which cases the above codes are used?

Thank you in advance.

Best regards,

LNAT

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ANSWER

Hi,

Those codes are used in Field 77B of  MT 734 to inform the presenter of the disposal of documents.

/HOLD/  Documents held at your disposal

/NOTIFY/ Documents held until the issuing bank receives a waiver from the applicant and agrees to accept it, or receives further instructions from the presenter prior to agreeing to accept a waiver.

/PREVINST/ Acting in accordance with instructions previously received from the presenter.

/RETURN/ Documents being returned to you.

Note: Any code must be used between slashes and appear at the beginning of a line, e.g., 77B: /HOLD/

Hope it helps.

Kind regards,

Mr. Old Man

P/s: For questions regarding the use of SWIFT messages, you can google answers.

2 Comments

  1. […] CODES USED IN FIELD 77B MT 734. […]

    Reply

  2. Yvonne

    December 12, 2016 at 6:16 pm

    Good n useful link for LC practitioners

    Reply

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