When the amendment to a documentary credit message exceeds the maximum input message length, additional amendment to a documentary credit information should be transmitted via one or more MTs 708. Up to seven MTs 708 may be sent in addition to the MT 707.
Terms and conditions which are not mentioned in the amendment message remain unchanged.
Unless otherwise specified, the MT 707 is intended to form part of the operative instrument.
Information conveyed in a designated field in the MT 707 must not be repeated in any related MT 708. Information in any related MT 708 must not conflict with any information that is present in this MT 707.
The cancellation of a documentary credit takes the form of an amendment. The MT 707 must therefore be used.
The specific fields for amendments must be used. Field 22A identifies the purpose of the message. All fields up to 22A are used to identify the documentary credit and to identify the amendment. Fields after 22A specify details of the amendment. Only those fields that require amendment must be present.
When an MT 707 conveys the actual and complete amendment, it is intended to form part of the operative instrument.
When an MT 707 is used to convey only brief details which are not intended to form part of the operative instrument, field 72Z must contain the phrase DETAILS TO FOLLOW.
If the amendment contains reimbursement instructions which were not previously indicated in the original credit and unless otherwise specified, reimbursements under the Documentary credit issued are, if applicable, subject to the Uniform Rules for Bank-to-Bank Reimbursements under documentary credits, International Chamber of Commerce, Paris, France, which are in effect on the date of issue. The advising bank, that is, the Receiver of the message, should, where applicable, inform the nominated bank when the reimbursement is subject to ICC URR. In case of a freely negotiable credit this should be done by informing the beneficiary.