This tutorial analyses and teaches each field of a MT 700 Swift Message type used to issue a real-life Letter of Credit taken as a sample.

A MT700 Swift message type is used worldwide to issue a letter of credit.
This tutorial explains in detail each field and what the inputs in each mean.

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0:00 Introduction
1:04 SWIFT and ICC Reference and Guidance Documents
2:00 MT 700 Header
2:24 Field 27 Sequence of Total
3:25 Field 40A Form of Documentary Credit
3:58 Field 20 Documentary Credit Number
4:06 Field 31C Date of Issue
4:24 Field 40E Applicable Rules
4:53 Field 31D Date and Place of Expiry
5:05 Field 51D Application Bank
5:25 Field 50 Applicant
5:42 Field 32B Currency Code, Amount
6:19 Field 39A Percentage Credit Amount Tolerance
6:46 Field 41D Available with..By
8:21 Field 42C Drafts at..
8:55 Field 43P Partial Shipments
9:22 Field 43T Transshipment
9:48 Field 44 Port of Loading/ Discharge
11:16 Field 44C Latest Date of Shipment
13:13 Field 45A Description of Goods
14:13 Field 46A Documents Required
17:54 Field 47A Additional Conditions
19:55 Field 71B Charges
20:24 Field 49 Confirmation Instructions
20:37 Field 78 Instruction to the Paying bank
20:50 Field 57D Advise Through Bank
20:59 Checkpoints for Letter of Credit Issuance


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