MT700
SWIFT MT700 message, issuance of a documentary credit.
Definition
The MT700 carries the full terms of a documentary credit from the issuing bank to the advising bank. Mandatory fields include 40A (form of credit), 20 (documentary credit number), 31C (date of issue), 40E (applicable rules), 31D (date and place of expiry), 50 (applicant), 59 (beneficiary), 32B (currency and amount) and 41a (available with... by...). Since Standards Release 2018 the message holds roughly 39 fields.
Origin
Defined in the SWIFT User Handbook, Category 7 — Documentary Credits and Guarantees/Standby Letters of Credit (ISO 15022 / MT-FIN format), maintained by Swift. Governed at the rules level by the ICC UCP 600.
Example in context
:40A:IRREVOCABLE
:20:DCREF20260620
:31C:260620
:40E:UCP LATEST VERSION
:31D:260920PARIS
:32B:EUR250000,00