UCP 600 - Article 9
.
Advising of Credits and Amendments
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b. By advising the credit or amendment, the advising bank signifies that it has satisfied itself as to the
apparent authenticity of the credit or amendment and that the advice accurately reflects the terms and
conditions of the credit or amendment received.
We are in receipt of the LC has following details.
LC available with
xxxx (This is advise through bank)
Field 49A:confirm
57A:xxxx(This is advise through bank)
We ABC have added confirmation to the LC.
40B IRRECOVABLE, ADDING OUR CONFIRMATION.
Please advise while advising the LC to advise through should we change field 49A as
WITHOUT as the confirmation has been completed at our end or as per above UCP article 9
we need to advise the LC as it is from the issuing bank.
.
Regards
CITIBANK DUBAI
TRADE SERVICES.
MT710 CONFIRMATION INSTRUCTIONS.
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dinesh2476
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picant
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yes
Hi Pal,
instructions in MT700 are only for the receiver, confirm means to indcate in field 40B of mt710 the sentence you quote and modify field 49A as without.If the issuing bank needs to have a further confirmation by the advising bank must clause the doc.credit accordingly. The modification of field 49A is well cleared in Swift Book 7, examples.of MT700 confirm and MT710 without.
Other comments appreciated.
Ciao
instructions in MT700 are only for the receiver, confirm means to indcate in field 40B of mt710 the sentence you quote and modify field 49A as without.If the issuing bank needs to have a further confirmation by the advising bank must clause the doc.credit accordingly. The modification of field 49A is well cleared in Swift Book 7, examples.of MT700 confirm and MT710 without.
Other comments appreciated.
Ciao
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tulsi
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Re: MT710 CONFIRMATION INSTRUCTIONS.
Field 49 need to amend as Confirm, after adding confirmation.
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cristiand969
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confirmation
As Picant stated, confirmation instructions are exclusively addressed to the receiver (in this case to first advising banK)
Once the first advising bank added confirmation, field 49A should be by default WITHOUT. Inserting CONFIRM in 49 of MT710 is totally wrong as such an instruction does not come from issuing bank (because they addressed the confirmation exclusively to first advising bank) but from first advising bank which is not allowed.
In case the issuing bank would like that the second advising bank to add their confirmation it should instruct field 49 of MT700 as CONFIRM and in field 47A to add an additional clause: CONFIRMATION INSTRUCTIONS IS ADDRESSED TO SECOND ADVISING BANK.
Once the first advising bank added confirmation, field 49A should be by default WITHOUT. Inserting CONFIRM in 49 of MT710 is totally wrong as such an instruction does not come from issuing bank (because they addressed the confirmation exclusively to first advising bank) but from first advising bank which is not allowed.
In case the issuing bank would like that the second advising bank to add their confirmation it should instruct field 49 of MT700 as CONFIRM and in field 47A to add an additional clause: CONFIRMATION INSTRUCTIONS IS ADDRESSED TO SECOND ADVISING BANK.