Reimbursing undertaking

dinesh2476 · Post by **dinesh2476** » Mon Jun 03, 2019 4:00 pm

Dear Experts,

g. "Reimbursement undertaking" means a separate irrevocable undertaking of the reimbursing bank,....to the claiming bank named in the reimbursement authorization, to honour that bank's reimbursement claim,...

However, there is no mandatory field in the MT740 with regard to the claiming bank.

2. Also please help me to understand the below by citing an example with structure.. claiming bank and honour bank need not be the same bank.

e. "Claiming bank" means a bank ...."Claiming bank" includes a bank authorized to present a reimbursement claim to the reimbursing bank on behalf of the bank that honours or negotiates.

Thanks & Regards
Dinesh