Difference Between 'Issue' & 'Request' of Field 23 of MT760

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.
Post Reply
monem
Posts: 14
Joined: Sun Dec 02, 2012 8:59 pm
First Name: Abdul
Last Name: Monem
Organization: Dutch-Bangla Bank
Filter: Two Plus Two =: 4
Location: Bangladesh

Difference Between 'Issue' & 'Request' of Field 23 of MT760

Post by monem » Thu May 16, 2013 3:16 pm

Please explain the difference between 'Issue' and 'request' of Field 23 of MT 760.

Regards,
Monem
Top
User avatar
picant
Posts: 2026
Joined: Wed Aug 20, 2008 1:49 pm

Swift codes

Post by picant » Fri May 17, 2013 10:41 am

Hi Pal,

by indicating ISSUE, you are issing your own guarantee favouring a beneficiary. with REQUEST you are asking your correspondent to issue its own guarantee by your order,favouring a beneficiary, normally Governamental authority or companies under a specific legal request. This is called Counter-garantee too.
Other comments appreciated
Ciao
Top
Post Reply

Return to “Documentary Guarantee Forum”