Letter of Credit Text (MT 700)

Swift MT 700 is used when certain Bank institutions around the world are unable or unwilling to verify account holders funds using the Swift MT 760. Such is the case at the present time with the Bank of China.

A MT700 is the SWIFT format for a Documentary Letter of Credit, but it is also possible to issue a Standby Letter of Credit using the same SWIFT message type. Similarly, a MT760 is the SWIFT format for a Guarantee, but again you could send a Standby Letter of Credit using the same SWIFT message type.

MT700 PDF text format:download

27 / SEQUENCE OF TOTAL
1/1

40A / FORM OF DOCUMENTARY CREDIT
IRREVOCABLE

20 / DOCUMENTARY CREDIT NUMBER
XXXXXX

31C / DATE OF ISSUE
080416

40E / APPLICABLE RULES
UCP LATEST VERSION

31D / DATE AND PLACE OF EXPIRY
090630

50 / APPLICANT
xxxxxx

59 / BENEFICIARY – NAME & ADDRESS
MR. RAINIER JREISSATI / PEGASUS CEMENT ON BEHALF OF BUILDING SUPPLIES LTD

32B / CURRENCY CODE, AMOUNT
USD xxxxxx

39B / MAXIMUM CREDIT AMOUNT
NOT EXCEEDING

41A / AVAILABLE WITH/BY… – BIC
(CORRESPODANT BANK IN LEBANON)
BY PAYMENT

42C / DRAFTS AT
100% AT SIGHT

42A / DRAWEE

43P / PARTIAL SHIPMENTS
ALLOWED

43T / TRANSHIPMENTS
NOT ALLOWED

44A / PL OF TKING IN CHRG / OF RCEIPT
ANY SPANISH PORT, ANY EUROPEAN PORT

44B / PL OF FINAL DEST / OF DELIVERY
MUUGA HARBOUR-TALLIN PORT – ESTONIA AND ST PETERSBURG PORT – RUSSIA AS PER ATTACHED DELIVERY SCHEDULE.
44C / LATEST DATE OF SHIPMENT
(20 DAYS FROM RCPT OF ACCEPTABLE LC)

45A / DESCRIPTN OF GOODS &/OR SERVICES
ORDINARY PORTLAND CEMENT 42.5N TO UNE-EN 197-1:2000, TOTAL OF 1.2 MILLION METRIC TONS OF OPC 42.5N SHIPPED IN VESSELS OF 25,000MT AND 12,500MT @ THE RATE OF USXXMT CIF MUG-TALLIN-ESTONIA AND ST PETERSBURG PORT-RUSSIA, AS PER THE FOLLOWING MINIMUM SPECIFICATIONS:

GREY PORTLAND CEMENT GRADE 42,5N
SPECIFICATIONS OF ORDINARY PORTLAND CEMENT 42.5N TO UNE-EN 197-1:2000
COMPONENTS
Clinker 95 to 100%
Components additional 0 to 5%

CHEMICAL CHARACTERISTICS
Loss on Calcination (CFP) ≤5.0%
Insoluble Residue (RI) ≤5.0%
Sulfuric anhydride (SO 3) ≤3.5%
Chloride (Cl) ≤0.1%

PHYSICAL CHARACTERISTICS
Begin hardening ≥60 minutes
Expansion Le Chatelier ≤10 mm

COMPRESSIVE STRENGTH
2 days >10.0 MPa
28 days >42.5 MPa
<62.5 MPa
SPECIFICATIONS UNE 80303-1

ADDITIONAL FEATURES OF CLINKER
C3A <5.0%
C3A + C4AF <22.0%

46A / DOCUMENTS REQUIRED
+FULL SET OF CLEAN ON BOARD MARINE BILLS OF LADING ISSUED TO OUR ORDER MARKED FREIFGT PREPAID NOTIFY (BUYER) BEARING L/C NO XXXX EVIDENCING SHIPMENT TO XXXX SEAPORT FROM BRAZILIAN OR EUROPEAN PORT.
+COMMERCIAL INVOICE IN 1 ORIGINAL AND 6 COPIES ISSUED AND SIGNED BY BENEFICIARY CONTAINING THE FOLLOWING SIGNED CLAUSE: “WE HEREBY CERTIFY THAT THIS INVOICE IS AUTHENTIC, THAT IS THE ONLY INVOICE ISSUED BY US FOR THE GOODS DESCRIBED HEREIN AND THAT IT SHOWS THEIR EXACT VALUE WITHOUT DEDUCTION OF ANY DISCOUNT AND THAT THEIR ORIGIN IS BRAZILIAN OR EUROPE AND THAT THEIR SPECIFICATION S, QUALITY, QUANTITY, AND PACKING ARE AS PER PROFORMA INVOICE NO XXXX DATED XXXX
+CERTIFICATE OF ORIGIN IN ONE ORIGINAL AND TWO COPIES STATING THAT THE GOODS BEING EXPORTED ARE BRAZILIAN OR EUROPEAN ORIGIN SUCH CERTIFICATE MUST BE AUTHENTICATED BY THE CHAMBER OF COMMERCE AND OR UNION OF INDUSTRY AND CERTIFIED BY THE REPRESENTATIVE OFFICE OF THE (DESTINATION COUNTRY) IN THE EXPORTING COUNTRY.
+DECLARATION ISSUED BY SHIPPING COMPANY STATING THAT THE VESSEL CARRYING THE GOODS IS NOT BLACKLISTED AND IT IS ALLOWED TO ENTER ABOVE MENTIONED PORTS.
+PACKING AND WEIGHT LIST IN 1 ORIGINAL AND 3 COPY.
+INSURANCE POLICY COVERING 110 PERCENT OF GOODS VALUE AND COVERING ALL RISKS.
+ SGS CERTIFICATE CONFIRMING WEIGHT AND QUALITY OF SHIPPED GOODS.
+MANUFACTURER’S CERTIFICATE OF CONFORMITY.

47A / ADDITIONAL CONDITIONS
PLEASE ADVISE BY SWIFT OF ANY EXTENSION OF THE PRESENT CERDIT AND SEND US ORIGINAL DOCUMENTS BY DHL COURIER.
1- THIS L/C IS REVOLVING FOR XX MORE TIMES EACH FOR USD XXX,000 +/- 5 PERCENT ONLY AFTER WE RECEIVE APPLICANT’S REQUEST AND YOUR RECEIPT OF OUR RELATIVE AMENDMENT IN THIS RESPECT.
2- DOCUMENTS TO BE ISSUED IN ENGLISH LANGUAGE BEARING THE PRESENT CREDIT NUMBER SHOULD BE PRESENTED NOT LATER THAN FOURTEEN DAYS FROM B/L LADING DATE BUT WITHIN CREDITS VALIDITY AND TO BE FORWARDED TO US BY FIRST REGISTERED AIRMAIL DUPLICATE BY SECOND MAIL. DOCUMENTS IN OTHER THAN ENGLISH LANGUAGE WILL BE ACCEPTED AS PER THE REQUIREMENTS OF THE DESTINATION PORTS.
3- INSPECTION CERTIFICATE ISSUED BY SGS COMPANY P.O.BOX 2152 1211 GENEVE FAX: 00441 227399886 TEL: 227399111 IN ONE ORIGINAL AND ONE COPY STATING THAT THE GOODS ARE COMPARE TO SPECIFICATIONS QUALITY AND QUANTITY AS PER INVOICE NO: XXXX DD 19/09/07
4- BILLS OF LADING OF THE FOLLOWING NATURE ARE NOT ACCEPTABLE: COMBINED TRANSPORT BILL OF LADING OR A COMBINATION OF TITLES OF SIMILAR INTENT.
5- PHOTOCOPIES OF DOCUMENTS PRESENTED INSYEAD OF COPIES ARE NOT ACCEPTABLE.
6- ANY CHARGES MAY BE CLAIMED BY YOU AND/OR ANY CORRESPONDENT IN CASE OF NON UTILIZATION OF THIS LC ARE NOT ACCEPTABLE (ARTICLE 37C OF UCP 600 IS NOT APPLICABLE).
7- ALL CHARGES AND COMMISSUIONS OUTSIDE (SELLER’S BANK COUNTRY) ARE FOR BENEFICIARY’S ACCOUNT AND TO BE COLLECTED UPON UTILIZATION OF THE L/C.
8- ALL DOCUMENTS SHOULD INCLUDE THE FOLLOWING PACKING DETAILS: PACKING SHALL BE IN 50 KG 3 PLYER KRAFT PAPER BAGS AND REPACKED IN 1-2 MT PLASTIC SLING BAGS ON PALLETS.

71B / CHARGES
PLEASE REFER TO FIELD 47A ADDITIONAL CONDITION NO. 10

49 / CONFIRMATION INSTRUCTIONS
WITH

53A / REIMBURSING BANK – BIC

78 / INSTR TO PAYG/ACCPTG/NEGOTG BANK
UPON PRESENTATION OF DRAFTS AND DOCUMENTS IN COMPLIANCE WITH THE CREDIT TERMS AND CONDITIONS WE SHALL COVER YOU AT YOUR CONVIENCE.

57A / ADVISE THROUGH BANK – BIC

72/ SENDER TO RECEIVER INFORMATION
/KINDLY/
//CONFIRM RECEIPT//

MT 700 Format Specifications
MT 700 Issue of a Documentary Credit

Status	Tag	Field Name	Status	Tag	Field Name
M	27	Sequence of Total	O	43P	Partial Shipments
M	40A	Form of Documentary Credit	O	43T	Transhipment
M	20	Documentary Credit Number	O	44A	Place of Taking in Charge/Dispatch from…/Place of Receipt
O	23	Reference to Pre-Advice	O	44E	Port of Loading/Airport of Departure
O	31C	Date of Issue	O	44F	Port of Discharge/Airport of Destination
M	40E	Applicable Rules	O	44B	Place of Final Destination/For Transportation to…/Place of Delivery
M	31D	Date and Place of Expiry	O	44C	Latest Date of Shipment
O	51a	Applicant Bank	O	44D	Shipment Period
M	50	Applicant	O	45A	Description of Goods and/or Services
M	59	Beneficiary	O	46A	Documents Required
M	32B	Currency Code, Amount	O	47A	Additional Conditions
O	39A	Percentage Credit Amount Tolerance	O	71B	Charges
O	39B	Maximum Credit Amount	O	48	Period for Presentation
O	39C	Additional Amounts Covered	M	49	Confirmation Instructions
M	41a	Available With … By …	O	53a	Reimbursing Bank
O	42C	Drafts at …	O	78	Instructions to the Paying/Accepting/Negotiating Bank
O	42a	Drawee	O	57a	’Advise Through’ Bank
O	42M	Mixed Payment Details	O	72	Sender to Receiver Information
O	42P	Deferred Payment Details