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advising MT707 - no route - advising bank revoked their RMA

Posted: Sat Oct 30, 2021 3:17 am
by Stas
hello,
we need to send an MT707 but the Receiver Institution UBLDBDDHXXX that acted as an advising bank for our MT700 revoked their RMA.
How should we act in this case taking into account that according to UCP 600
UCP 600 - Article 9
Advising of Credits and Amendments
d. A bank utilizing the services of an advising bank or second advising bank to advise a credit MUST USE THE SAME BANK TO ADVISE ANY AMENDMENT THERETO.

How can we deliver the amendment in question?
What’s the best course of action?
Please kindly advise.

Thanks
Best,
Stas

Re: advising MT707 - no route - advising bank revoked their RMA

Posted: Mon Nov 01, 2021 6:43 pm
by picant
Hi Pal,

in this case I will send a message MT707 to another correspondent instructing to forward a MT707 to the advising bank.
UCP do not prohibite to use a different itinerary.(probably causing extra costs)
Other comments appreciated
Ciao

PS IMHO MT7nn should not require RMA Messages inserted in SWIFT System are all authenticated. If receiving a message from a bank will cause AML, KYC problems, the same will happen if you receive it via a tuird party.

Re: advising MT707 - no route - advising bank revoked their RMA

Posted: Mon Nov 08, 2021 12:26 am
by Stas
thanks