Trade Finance
By Ohmyfin Organisation Editorial Team · Published 2026-05-22 · Updated 2026-05-22
MT700 is the SWIFT message used by an issuing bank to communicate the terms of a commercial documentary letter of credit to the advising bank. It is the trade-finance equivalent of an MT103 in importance.
Key fields: 27 (sequence), 40A (form of LC — irrevocable, transferable, etc.), 20 (LC reference), 31C (date of issue), 31D (expiry), 32B (currency and amount), 41A (available with bank), 42C (drafts), 43P (partial shipments allowed?), 43T (transhipment), 44A/E (place of taking in charge / port of loading), 44F (port of discharge), 44B (place of final destination), 45A (description of goods), 46A (documents required), 47A (additional conditions), 50 (applicant), 59 (beneficiary), 71D (charges), 72 (sender to receiver).
Field 45A is critical — describes the goods in enough detail for the bank to verify against the invoice and bill of lading. Vague descriptions cause discrepancies.
Payment Located
SWIFT GPI Network · Real-time status
Payment Not Found
No record found in SWIFT GPI or any correspondent banking data
Fraud Awareness Notice
If you received a payment document from a third party, verify directly with your own bank before releasing goods or funds. Fake MT103 / pacs.008 confirmations are widely used in advance-fee scams. See our fraud guide →
Monitor for 7 Days — Free
We re-check every few hours and notify you the instant this payment appears — no account, no spam.
Watching — we'll email you the moment it appears.
Not sure what to do next?
Ask SwiftMate, our SWIFT assistant, for guidance on payment delays, rejections, and next steps.
Payments can appear hours after initiation — try again later
Field 46A lists the documents required (commercial invoice in N copies, full set of bills of lading consigned to X, packing list, certificate of origin, insurance certificate). Document set is negotiated between buyer and seller before issuance.
Field 47A is the discretionary clauses field — Inspection certificates, beneficiary statements, language requirements. Heavily customised per LC.
Form (field 40A): IRREVOC = irrevocable (norm); IRREVOC TRANS = transferable; CONFIRM = confirmed by advising bank.
After issuance: amendments via MT707; transfer to second beneficiary via MT720; refusal of presented documents via MT734.
Key takeaways
MT700 = commercial LC issuance.
Field 45A = goods description (critical for compliance).
Field 46A = documents required.
Field 47A = discretionary conditions.
MT707 amends; MT720 transfers; MT734 refuses.
Frequently asked questions
Can MT700 be amended after issuance?
Yes via MT707, with consent of beneficiary. Substantive amendments require beneficiary acceptance.
What is a transferable LC?
Allows the beneficiary to transfer the credit in whole or part to a second beneficiary (often a sub-supplier). Initiated via MT720.
How is "confirmed" different from "advised"?
Confirmed: advising bank adds its own undertaking to pay. Advised: advising bank just notifies the beneficiary; pays only as reimburser of the issuing bank. Confirmation is added for risk reasons.
Are MT700 LCs being replaced by pacs / ISO 20022?
Trade-finance MT 7xx messages remain on MT for now. ISO 20022 trade-finance equivalents are in development but not in production at scale.
Payment Located
SWIFT GPI Network · Real-time status
Payment Not Found
No record found in SWIFT GPI or any correspondent banking data
Fraud Awareness Notice
If you received a payment document from a third party, verify directly with your own bank before releasing goods or funds. Fake MT103 / pacs.008 confirmations are widely used in advance-fee scams. See our fraud guide →
Monitor for 7 Days — Free
We re-check every few hours and notify you the instant this payment appears — no account, no spam.
Watching — we'll email you the moment it appears.
Not sure what to do next?
Ask SwiftMate, our SWIFT assistant, for guidance on payment delays, rejections, and next steps.
Payments can appear hours after initiation — try again later