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MT 710 Field Specifications

2. Field 40B: Form of Documentary Credit

FORMAT

Option B 24x
24x
(Type)
(Code)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit and whether or not the Sender is adding its confirmation to the credit.

CODES

Type must contain one of the following codes (Error code(s): T60) (Error code(s): T64) :

IRREVOCABLE The documentary credit is irrevocable
IRREVOCABLE TRANSFERABLE The documentary credit is irrevocable and transferable
IRREVOCABLE STANDBY The standby letter of credit is irrevocable
IRREVOC TRANS STANDBY The standby letter of credit is irrevocable and transferable

CODES

Code must contain one of the following codes (Error code(s): T66):

ADDING OUR CONFIRMATION The Sender is adding its confirmation to the credit
WITHOUT OUR CONFIRMATION The Sender is not adding its confirmation to the credit

USAGE RULES

Details of any special conditions applying to the transferability of the credit and/or the bank authorised to transfer the credit in a freely negotiable credit should be included in field 47A Additional Conditions.