Mr Old Man Payment Q&A WHERE MT 700 DOES NOT CONTAIN FIELD 43P By Mr Old Man Posted on July 14, 2024 1 min read 0 0 578 Share on Facebook Share on Twitter Share on Google+ Share on Reddit Share on Pinterest Share on Linkedin Share on Tumblr QUESTION Dear Mr. Old Man, We received a SWIFT MT 700 which does not contain Field 43P (Partial shipments). I want to know whether partial shipments are allowed or not allowed. Thank you for your clarification. Best regards, PTT —- ANSWER Hi, Field 43P (partial shipments) specifies whether or not partial shipments are allowed under the LC. This field is to be completed with one of three codes: “Allowed”, “Conditional” or “Not Allowed”. In the event “Conditional” is used, specific details will be added in Field 47A. Allowed – Partial shipments are allowed under the LC Not Allowed – Partial shipments are not allowed under the LC Conditional – Shipment option depends on any condition stated in the LC Since Field 43P is an optional field, and not a mandatory field, it may not be present in MT 700. Where MT 700 does not contain Field 43P, it is understood, based on sub-article 31 (a) UCP 600, that partial shipments are allowed. Best regards, Mr. Old Man
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?
IS THE NOMINATED BANK REQUIRED TO VERIFY WHETHER THE BENEFICIARY HAS AUTHORIZED THE PRESENTING BANK TO PRESENT THE DOCUMENTS?