MT700 Field Reference: Every Key Letter of Credit Field Explained
Search any MT700 field tag or name to see what it means and what to check.
| Tag | Field | What it means | What to check |
|---|---|---|---|
| 27 | Sequence of Total | Which message of a multi-part credit this is (e.g. 1/1). | Make sure you have every part of the credit. |
| 40A | Form of Documentary Credit | Irrevocable, transferable, etc. | Confirm the form matches your contract (e.g. transferable if you need it). |
| 20 | Documentary Credit Number | The credit's reference number. | Quote it where 47A asks for it on documents. |
| 31C | Date of Issue | When the credit was issued. | Documents may be dated before this but not after presentation. |
| 40E | Applicable Rules | Usually UCP latest version. | Know which rules apply before checking documents. |
| 31D | Date and Place of Expiry | Last day and place for presentation. | Expiry abroad means courier time counts. |
| 50 | Applicant | The buyer who asked for the credit. | Invoice must be made out to the applicant. |
| 59 | Beneficiary | The exporter who gets paid. | Name must match your documents; address in the same country. |
| 32B | Currency Code, Amount | Credit currency and amount. | Invoice currency and amount must fit. |
| 39A | Percentage Credit Amount Tolerance | Allowed +/- percentage on the amount. | Check invoice totals are inside the tolerance. |
| 41a | Available With … By … | Which bank, and payment, acceptance, negotiation or deferred payment. | Know where to present and how you get paid. |
| 42C | Drafts at … | Tenor of any draft (bill of exchange). | Prepare a draft only if requested, with this tenor. |
| 43P | Partial Shipments | Allowed or not allowed. | Don't split shipments if not allowed. |
| 43T | Transhipment | Allowed or not allowed. | Check the routing with your forwarder. |
| 44A | Place of Taking in Charge / Dispatch | Where goods are received (multimodal). | Must match the transport document. |
| 44E | Port of Loading / Airport of Departure | Where goods load. | Transport document must show this port. |
| 44F | Port of Discharge / Airport of Destination | Where goods unload. | Transport document must show this port. |
| 44B | Place of Final Destination | Final destination (multimodal). | Must match the transport document. |
| 44C | Latest Date of Shipment | Last date goods may ship. | On-board date must not be later. |
| 44D | Shipment Period | A period instead of one latest date. | Ship within the period. |
| 45A | Description of Goods and/or Services | What is sold, often with Incoterm. | Invoice description must correspond. |
| 46A | Documents Required | Every document to present. | Count originals and copies; note issuers and content. |
| 47A | Additional Conditions | Extra conditions across documents. | Add each condition to every affected document. |
| 71D | Charges | Who pays which bank charges. | Expect these deductions from payment. |
| 48 | Period for Presentation in Days | Days after shipment to present. | Deadline is the earlier of this and expiry. |
| 49 | Confirmation Instructions | Confirm, may add, or without. | Unconfirmed means you rely on the issuing bank. |
| 78 | Instructions to the Paying/Accepting/Negotiating Bank | How the issuing bank will reimburse. | Useful to understand payment timing. |
Runs in your browser — nothing you paste is uploaded or stored. General guidance, not legal advice.
Want this done automatically?
Upload your Letter of Credit for a free snapshot of deadlines, documents and watch-outs.
Drop your Letter of Credit PDF here
MT700 or bank-issued PDF · up to 25 MB
No account required · Private · Deleted after 7 days unless you save it