Business transactions
Updated 9 June 2009
Documentary credits, collections and guarantees
SWIFT currently offers two sets of its traditional standards in the trade services area - standards for documentary collections and cash letters (MT 4xx) and standards for documentary credits and guarantees (MT 7xx).
Most recent is the extension of trade messaging to cover corporate-to-bank message exchanges. In particular, the MT 798 - the ’envelope message’ is being used in the corporate-to-bank environment to cater for the Import Letters of Credit, Export Letters of Credit and Guarantees/Standby Letters of Credit, based on the reuse of the existing MT 7xx bank-to-bank messages within the MT 798 envelope.