The Difference Between MT700 and MT760 (SBLC)

Contact: Dr Eugene M. Edwards (Sblc Provider)

E: eugenemedwards@protonmail.com

mt700 mt769
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MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively. 

  • Banks use MT700 when issuing a commercial letter of credit or a standby letter of credit. 
  • Banks use MT760 when issuing a demand guarantee or a standby letter of credit. 

MT700 is used to indicate the terms and conditions of a commercial documentary credit or a standby letter of credit which has been originated by the Sender (issuing bank). This message is sent by the issuing bank to the advising bank. 

MT760 is sent between banks involved in the issuance of a demand guarantee or a standby letter of credit. It is used to issue a guarantee or to request the Receiver to issue a guarantee.

MT700 CODES AND MEANING

20Documentary credit number
23Issuing bank’s reference
31CDate of issue
31DDate and place of expiry
32BCurrency code amount
39BMaximum credit amount
40AForm of documentary credit
40E(*) Applicable rules
41DAvailable with… by…
42CDrafts at
42DDrawee – name and address
43PPartial shipments
43TTranshipments
44A (*)Place of taking in charge/dispatch from
place of receipt
44E (*)Port of loading/airport of departure
44F (*)Port of discharge/Airport of destination
44B (*)Place of final destination/for transportation to/
Place of delivery
44CLatest date of shipment
45ADescription of goods and services
46ADocuments required
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