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MT 707 Field Specifications

44. 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

Conditional (see rule C1)

DEFINITION

This field specifies the name of the bank which has been authorised by the Sender to reimburse drawings under the documentary credit, if changed. This may be a branch of the Sender or the Receiver, or an entirely different bank.

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).