Best Trade Solution

Hi All,

We have received MT 710 Letter of Credit from xyz bank where field 49 reads as 'WITHOUT' and field 47 reads as advising bank is to add confirmation...

In this case do we need to add the confirmation or not?

If Yes then why? (please provide the reason)
If No then why? (please provide the reason)

Clearly a conflict and you should seek clarification from the sender

Hi,
As is known, the field 49 contains confirmation instructions for the receiver. Therefore if an issuing bank requests add confirmation from a bank other than receiver bank, Issuing bank must clearly state on l/c in field 47A its request.

For your case, If your bank mentioned on l/c as nominated bank(in field 41A) and your bank are requested to add your confirmation in field 47A, you can add your confirmation as per ıssuing bank instruction.

In my opinion you should ask for an amendment as there is a conflict in lc terms

Hi Pals,

the request for adding confirmation is for the advising bank, not for the receiver so the latter will
send its MT710 "without adding confirmation" and in field 49 Confirm.
This could seem a conflict but in some Countries exists ECA, that may guarantee a bank when adds confirmation to a l/c.
So the issuing bank has not Swift RMA with advising bank and it is using a common correspondent.
Probably the bank adding confirmation is prepared to do soo, being already informed by the beneficiary....
Other comments appreciated
Ciao