MT 752 And MT756 Usage When Bill Discrepancy Is Approved

John999 · Post by **John999** » Sat Feb 25, 2017 11:10 am

Dear Experts,
Can you kindly confirm the business practice based on the scenario:

Bank B acting as the Negotiating Bank under L/C finds discrepancies in the documents submitted and sent's an MT750 to the Issuing bank (Bank A) seeking approval to take up the documents.

Bank A verifies the discrepancies and sent's MT752 to the Negotiating bank to take up the documents.

After receipt of incoming MT752 will the bank B again sent MT754 to the issuing bank seeking payment? or will the incoming 752 along with the payment message (MT202) be sufficient?

Kindly clarify. Thanks.

picant · Post by **picant** » Sat Feb 25, 2017 1:37 pm

Hi Pal,

MT752 field 23 will indicate the way of remitting funds. So further action will depend on the
content of this field.
Other comments appreciated
Ciao

John999 · Post by **John999** » Sat Feb 25, 2017 7:10 pm

Dear Ciao,

Thanks for the response, the available codes values in field 23 are 'ACCEPT', 'DEBIT', 'NEGOTIATE', 'REIMBURSE', 'REMITTED'. Can we assume that for the options 'ACCEPT', 'NEGOTIATE',' REIMBURSE' if used further MT754 and /or MT742 (Claim) will be used to seek payment?

Thanks in Advance.

picant · Post by **picant** » Sat Feb 25, 2017 9:05 pm

Hi Pal,

on receipt of MT752 the presenting bank will act accodingly to l/c terms, except "Negotiate".
The bank will follow the instructions in Swift Book 7.
Ciao

MT 752 And MT756 Usage When Bill Discrepancy Is Approved

MT 752 And MT756 Usage When Bill Discrepancy Is Approved

Field 23

Follow the Swift book..