MT700 vs MT720
Posted: Wed Dec 23, 2009 3:22 am
Dear friends,
.
Consider the following case:
.
Bank A sent to Bank B MT998 message. Stating TEST for the amount with its head office in another country, asking advising bank to verify it and then write the message MT700 within.
My question, what is the use of MT998 here instead of MT999?
Next, from the terms of LC, it can be seen that applicant is the intermediary and the ultimate buyer is in another country. (port of discharge is not the applicant's country and BL notify party is a third party) Is there any risk for beneficiary due to receipt of LC via MT700 instead of MT720?
Regards
.
Consider the following case:
.
Bank A sent to Bank B MT998 message. Stating TEST for the amount with its head office in another country, asking advising bank to verify it and then write the message MT700 within.
My question, what is the use of MT998 here instead of MT999?
Next, from the terms of LC, it can be seen that applicant is the intermediary and the ultimate buyer is in another country. (port of discharge is not the applicant's country and BL notify party is a third party) Is there any risk for beneficiary due to receipt of LC via MT700 instead of MT720?
Regards