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Standby LC via MT700

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Sat, 04/04/2009 - 09:32
cptrader
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Joined: 03/26/2009
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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.

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Wed, 04/14/2010 - 16:02
#1
RLuis
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Joined: 04/14/2010
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Mt760...MT700

can anyone advise the structuring and financing of a gold transaction via MT700(buyer requires block)and MT799(seller requires POF)via a double escrow??..citrec@mac.com

 

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Sat, 04/04/2009 - 22:09
#2
mehdik
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Joined: 10/21/2008
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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

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