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MT 710 Field Specifications

39. Field 53a: Reimbursing Bank

FORMAT

Option A [/1!a][/34x]
4!a2!a2!c[3!c]
(Party Identifier)
(Identifier Code)
Option D [/1!a][/34x]
4*35x
(Party Identifier)
(Name and Address)

PRESENCE

Optional

DEFINITION

This field specifies the name of the bank or branch of the Receiver which has been authorised by the issuing bank to reimburse drawings under the documentary credit.

NETWORK VALIDATED RULES

Identifier Code must be a registered financial institution BIC (Error code(s): T27,T28,T29,T45).

Identifier Code must be a financial institution BIC. This error code applies to all types of BICs referenced in a FIN message including connected BICs, non-connected BICs, Masters, Synonyms, Live destinations, and Test & Training destinations (Error code(s): C05).

USAGE RULES

The absence of this field does not imply authority to debit the Sender.