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MT 700 Swift Message Type: Issuance of a Letter of Credit

This tutorial analyses and teaches each field of a MT 700 Swift Message type used to issue a real-life Letter of Credit taken as a sample. A MT700 Swift message type is used worldwide to issue a letter of credit. This tutorial explains in detail each field and what the inputs in each mean. ⭐️⭐️Our courses are chosen by international banks and corporates to train their employees. 🚀For our trade finance courses - https://www.bankon.school/courses/tra... ✅For our SWIFT ISO 20022 courses - https://www.bankon.school/courses/swi... Related tutorials- What is SWIFT code and how does it work in banks? :    • What is SWIFT code and how does it wo...   SWIFT Message Types in Banking :    • SWIFT Message Types in Banking   Letter of Credit Basic Concepts | Process Flow | Parties Involved :    • Letter of Credit Basic Concepts | Pro...   SUBSCRIBE HERE - https://bit.ly/2Xu68WD WATCH OUR LATEST VIDEO HERE - https://bit.ly/latesttutorial 0:00 Introduction 1:04 SWIFT and ICC Reference and Guidance Documents 2:00 MT 700 Header 2:24 Field 27 Sequence of Total 3:25 Field 40A Form of Documentary Credit 3:58 Field 20 Documentary Credit Number 4:06 Field 31C Date of Issue 4:24 Field 40E Applicable Rules 4:53 Field 31D Date and Place of Expiry 5:05 Field 51D Application Bank 5:25 Field 50 Applicant 5:42 Field 32B Currency Code, Amount 6:19 Field 39A Percentage Credit Amount Tolerance 6:46 Field 41D Available with..By 8:21 Field 42C Drafts at.. 8:55 Field 43P Partial Shipments 9:22 Field 43T Transshipment 9:48 Field 44 Port of Loading/ Discharge 11:16 Field 44C Latest Date of Shipment 13:13 Field 45A Description of Goods 14:13 Field 46A Documents Required 17:54 Field 47A Additional Conditions 19:55 Field 71B Charges 20:24 Field 49 Confirmation Instructions 20:37 Field 78 Instruction to the Paying bank 20:50 Field 57D Advise Through Bank 20:59 Checkpoints for Letter of Credit Issuance #letterofcredit #tradefinance