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MT 705 Field Specifications

1. Field 40A: Form of Documentary Credit

FORMAT

Option A 24x (Type)

PRESENCE

Mandatory

DEFINITION

This field specifies the type of credit.

CODES

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

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