MT700 Field 71D: Charges and Who Pays Them
How to read MT700 field 71D and how charges are deducted from payment.
Reviewed by LCCheck team (owner-approved) · 2026-10-12
Short answer
Field 71D states which charges are for whose account, for example 'ALL BANKING CHARGES OUTSIDE ISSUING BANK ARE FOR BENEFICIARY'S ACCOUNT'. If silent, the issuing bank's charges are normally for the applicant. Under UCP 600 Art. 37(c), if charges are for the beneficiary but cannot be collected, the applicant remains liable.
| Field | 71D Charges |
|---|---|
| Rule | UCP 600 Art. 37(c) |
| Effect | Deducted from your payment |
Check
- Which bank's charges are yours.
- Discrepancy fees clause.
- Confirmation charges.
- Cost against your price margin.
Sources
- Swift — MT700 Issue of a Documentary Credit (category 7 standards)
- ICC — UCP 600 (Uniform Customs and Practice for Documentary Credits)
General guidance, not legal advice. Your bank examines documents independently.
Related guides
Check MT700 requirements before presenting
Free snapshot in under a minute. No account needed.
Upload your Letter of Credit
PDF · up to 25 MB