MT792 — Request for Cancellation (Cat 7)
Cancellation request for a documentary credit or bank guarantee. Underpins the early extinction of a commercial commitment.
Purpose
MT792 requests cancellation of a documentary credit (MT700) or bank guarantee (MT760). Cancellation is only possible if no drawing / claim has been made. The advising bank must obtain the beneficiary's consent.
Block 4 structure
| Tag | Name | Status |
|---|---|---|
:20: | Transaction Reference Number | Mandatory |
:21: | Related Reference (LC / guarantee number) | Mandatory |
:11S: | MT and Date of Original Message | Mandatory |
:79: | Narrative (reason) | Mandatory |
Real-world example
BNP Paribas requests cancellation of LC LC-2026-001 (underlying contract cancelled):
{1:F01BNPAFRPPAXXX0000000000}{2:I792CITIUS33XXXXN}{4:
:20:CXL260518002
:21:LC-2026-001
:11S:700
260301
:79:WE HEREBY REQUEST CANCELLATION OF LC NO LC-2026-001 ISSUED ON
01 MAR 2026 FOR USD 500000,00 IN FAVOUR OF ACME EXPORTS LTD,
NEW YORK. REASON: UNDERLYING COMMERCIAL CONTRACT CANCELLED
BY MUTUAL AGREEMENT. NO DRAWINGS OUTSTANDING.
PLEASE CONFIRM CANCELLATION WITH BENEFICIARY.
-}{5:{CHK:BCD901234567}}Common pitfalls
- Drawing already made — cancellation impossible if the beneficiary has already presented compliant documents.
- No beneficiary consent — under UCP 600 art 10, cancellation requires the beneficiary's agreement.
- Wrong :21: — reference to a non-existent LC renders the cancellation ineffective.