SWIFT MT700 codes: letters of credit

(*) Revised/new fields

Swift code Meaning Example
20 Documentary credit number GB 78823
23 Issuing bank's reference SBRE-777
31C Date of issue January 26, 2007
31D Date and place of expiry March 26, 2007     London, UK
32B Currency code amount Twenty thousand US Dollars (USD 20,000.00)
39B Maximum credit amount Not exceeding twenty thousand US Dollars (USD20,000.00)
40A Form of documentary credit Irrevocable
40E (*) Applicable rules UCP latest version. (New mandatory field)
41D Available with...   by... Draft(s) drawn on MegaBank, by payment
42C Drafts at At sight for full invoice value
42D Drawee - name and address MegaBank, 402 Cannon St, London WC1N 9XX, UK
43P Partial shipments Prohibited
43T Transhipments Permitted
44A (*) Place of taking in charge/dispatch from
place of receipt
Southampton Container Terminal, UK
44E (*) Port of loading/airport of departure London Gatwick , UK
44F (*) Port of discharge/Airport of destination Sahar Airport, Mumbai, India
44B (*) Place of final destination/for transportation to/
Place of delivery
Prestige Imports, Mubai, India
44C Latest date of shipment March 19, 2007
45A Description of goods and services 100 Blizzard computers model K-99T, CIP Mumbai
46A Documents required

Signed commercial invoice in five (5) copies indicating the buyers Purchase order No. PP-876 dated January 10, 2007
Packing list in five (5) copies
Full set 3/3 clean on board ocean bill of lading, plus two (2) non-negotiable copies, issued to order of GlobalBank, Mumbai, India, notify the above accountee, marked 'freight prepaid', dated latest March 19, 2007, and showing documentary credit number
Insurance policy in duplicate for 110% CIP value covering Institute Cargo Clauses (A), Institute War and Strike Clauses, evidencing that claims are payable in India

47A Additional conditions All documents indicating the Import License No. IP/123456 dated January 18, 2007
Draft(s) drawn under this credit must be marked "Drawn under documentary credit No. GB78823 of GlobalBank, Mumbai, India dated January 26, 2007"
48 Period of presentation Documents must be presented for payment within 15 days after the date of shipment.
49 Confirmation instructions Add your confirmation
50 Applicant Prestige Imports, 1003 Connaught Street, Mumbai, India
50B (*) Non-Bank Issuer MegaCorp Inc
52A Issuing bank GlobalBank, Mumbai, India
57D Advise through bank MegaBank, 402 Cannon St, London WC1N 9XX, UK
59 Beneficiary Mantissa Limited, 1 Cresswell Park, London SE3 9RD, UK
71B Charges All charges outside the Import-country are on beneficiary's account
72 Sender to receiver information This is an operative instrument, no mail confirmation to follow
78 Instruction to pay/accept/negot. bank Documents to be forwarded to us in one lot by courier