Within Which Time A Bank Must Respond a SWIFT Message?

With the introduction of Uniform Rules for Documentary Guarantee or URDG 758, the rules for Documentary Guarantee seem to be popular again. It can be imagined from the increasing number of questions that have popped up in recent days. Documentary Guarantee Forum is an effort to develop a platform to discuss these questions.
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frankf
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Within Which Time A Bank Must Respond a SWIFT Message?

Post by frankf »

Dear Friends,

IB confirm to client that the swift system has been open with a MT799 to the BB

What is the legal time frame between the beneficiary bank on acting/replying on a MT799 from the issuer bank??

and what will be the legal time frame to reply on the authenticated message from the BB to the IB with an MT760

IB is in South east Asia. BB+ bank
BB is in the EU, a A2 bank

Instrument is an SBLC in ISP98 format

Keeping in mind the time frame between Asia and ECT.

Many thanks
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picant
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More details

Post by picant »

Hi Pal,

frankly I dont understand your query, could you, please, post more details concerning this issue?
Thanks and ciao
Paris2013Kent
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Time limits for SWIFT messages

Post by Paris2013Kent »

Hi,

Judging just from message types, there is no other time limits apart from 'reasonable time' and good banking practice.
But perhaps if I'd known what would be the contents of that 799, that could shed some more light on what the issue is here.
.
simcorporate
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no time limits

Post by simcorporate »

Hi, I think there is no time limits for replying by SWIFT.
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