Hello is there a standard SWIFT message form for issuing standby LCs (SBLC). I understand that Standby LCs can be issued via MT 700 simply by inserting "IRREVOCABLE STANDBY" OR "IRREVOCABLE TRANS STANDBY" in field 40A.
Is there any disadvantage to issuing a SBLC via a MT700? Is there a preferred SWIFT mssage type for issuing SBLCs?
Thank you.
SBLC via Swift
Dear cptrader
According to SWIFT Standards MT (November 2008) there is also another standard format for issuing SBLC , that is MT 760 .
Regards