MT700 Field 53 Reimbursing Bank: The Architecture of Reimbursement Failure
Introduction
MT 700 Field 53A is Reimbursing Bank. Presence: Optional. This field specifies the name of the bank which has been authorised by the Sender to reimburse drawings under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different bank. The message is sent by the issuing bank to the advising bank to indicate the terms of a credit the Sender has originated.
Applying this field
Put this data in the designated MT 700 tag. Do not repeat it in field 47A or in an MT 701. Network rules C1–C4 still apply to 39A/39B, 42C/42a/42M/42P, and 44C/44D.
Conclusion
Field 53A is the designated MT 700 tag for this data. Do not repeat it in field 47A.
FAQ
Is Field 53A mandatory on an MT 700?
Optional.
What is Field 53A for?
This field specifies the name of the bank which has been authorised by the Sender to reimburse drawings under the documentary credit. This may be a branch of the Sender or the Receiver, or an entirely different bank.
Does a SWIFT format error become a UCP 600 discrepancy?
Network validation rejects the message before advice. Presentation discrepancies are examined under UCP 600 Article 14 against the credit that was actually issued.
| Regulation | Article / Section | Requirement | Consequence |
|---|---|---|---|
| UCP 600 | Article 14 | Standard for Examination of Documents | Binary determination (compliant/discrepant) |
← Scroll horizontally to see all columns
Quick Reference Summary
- No reference captured.
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