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MT 760 Format and Instructions Guide

This file provides detailed information and instructions for filling out the MT 760 form. It includes various fields and sequences required for Trade Finance documentation. Follow the guidelines to ensure accurate completion of the form.

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How do I fill this out?

Filling out this form involves completing several mandatory and optional fields. Start by entering general information, and proceed to undertaking details. Follow the specified formats for each field to ensure accuracy.

How to fill out the MT 760 Format and Instructions Guide?

1
Begin with the Sequence A General Information section.
2
Proceed to fill out the Mandatory Sequence B Undertaking Details section.
3
Complete the Optional Sequence C Local Undertaking Details if applicable.
4
Review the filled-out form to ensure all mandatory fields are completed correctly.
5
Submit the form through the specified method.

Who needs the MT 760 Format and Instructions Guide?

1
Banks need this form to process trade finance transactions.
2
Importers use this form to secure payment guarantees.
3
Exporters require this form to ensure payment security.
4
Legal firms use this form for drafting and reviewing trade finance agreements.
5
Financial advisors utilize this form for advising clients on trade finance matters.

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What are the instructions for submitting this form?

What are the important dates for this form in 2024 and 2025?

What is the purpose of this form?

Tell me about this form and its components and fields line-by-line.

What happens if I fail to submit this form?

How do I know when to use this form?

What are the instructions for submitting this form?

To submit the MT 760 form, ensure all mandatory fields are accurately completed. Submit the form via email to your bank's trade finance department or through their online submission portal if available. You may also fax the completed form to the specified trade finance fax number. Confirm the receipt of your submission to avoid any delays. For physical submissions, mail the completed form to the trade finance department's address as per the bank's instructions.

What are the important dates for this form in 2024 and 2025?

Key dates for the MT 760 form in 2024 and 2025 will be outlined closer to the required deadlines.

What is the purpose of this form?

The MT 760 form is a crucial document used in Trade Finance for issuing guarantees or standby letters of credit. This form ensures that both parties in a trade transaction are protected and that the terms of the agreement are clearly outlined. By providing detailed information about the undertaking, applicable rules, and expiry conditions, the form mitigates risks associated with international trade. The purpose of the MT 760 form is to facilitate secure and transparent trade transactions. It serves as a financial guarantee that the seller will receive payment as agreed upon, even if the buyer defaults. This assurance is vital in maintaining trust and confidence between trading partners. The MT 760 form is used globally and follows standardized formats to ensure consistency. Completing this form accurately is essential for the seamless processing of trade finance transactions. Banks, importers, exporters, and other stakeholders rely on this document for guaranteeing payments and securing trade deals.

Tell me about this form and its components and fields line-by-line.

The MT 760 form comprises various fields and sequences that need to be filled out accurately. Here are the main components:

1. 15A: New Sequence: This field indicates the beginning of a new sequence in the form.
2. 27: Sequence of Total: This field specifies the sequence number and the total number of sequences.
3. 22R: Purpose of Message: This field explains the purpose of the message in a 4-character code.
4. 72Z: Sender to Receiver Information: This field contains information that the sender wants to convey to the receiver, up to 6 lines of 35 characters each.
5. 20: Undertaking Number: A unique 16-character identifier for the undertaking.
6. 30: Date of Issue: The date on which the undertaking was issued, formatted as 6 numeric characters.
7. 22D: Form of Undertaking: Specifies the form of the undertaking using a 4-character code.
8. 40C: Applicable Rules: Defines which rules are applicable to the undertaking, using up to 39 characters.
9. 23B: Expiry Type: This field indicates the type of expiry using a 4-character code.
10. 31B: Date of Expiry: Specifies the expiry date of the undertaking using 6 numeric characters.
11. 35G: Expiry Condition: Describes the conditions under which the undertaking expires, up to 780 characters.
12. 50: Applicant: Details about the applicant, up to 4 lines of 35 characters each.
13. 51: Obligor/Instructing Party: Information about the obligor or instructing party, up to 4 lines of 35 characters each.
14. 52a: Issuer: Provides details about the issuer using format A or D.
15. 59: Beneficiary: Information about the beneficiary, formatted as [/34x] followed by 4 lines of 35 characters each.
16. 56a: Advising Bank: Specifies details of the advising bank using format A or D.
17. 21A: Advising Bank Reference: A 16-character reference code from the advising bank.
18. 57a: Second Advising Bank: Details of the second advising bank, formatted as A or D.
19. 32B: Undertaking Amount: The amount of the undertaking, formatted as 3 characters followed by up to 15 digits.
20. 39D: Additional Amount Information: Any additional information about the amount, up to 780 characters.
21. 71D: Charges: Details about any charges related to the undertaking, formatted as up to 6 lines of 35 characters each.
22. 45C: Presentation Instructions: Instructions for presenting the undertaking, up to 100 lines of 65 characters each.
23. 77U: Undertaking Terms and Conditions: Specifies the terms and conditions of the undertaking, up to 150 lines of 65 characters each.
24. 49: Confirmation Instructions: Instructions related to the confirmation of the undertaking, formatted as 7 characters.
25. 49a: Requested Confirmation Party: Details about the party requested to confirm the undertaking, formatted as A or D.
26. 44H: Governing Law: Details about the governing law of the undertaking, formatted as /2 characters/[up to 65 characters].
27. 23F: Automatic Extension Period: Specifies the automatic extension period, formatted as /4 characters/[up to 34 characters].
28. 78: Automatic Extension Notification Period: Specifies the notification period for automatic extensions, formatted as 3 numeric characters.
29. 31S: Automatic Extension Final Expiry Date: The final expiry date for automatic extensions, formatted as 6 numeric characters.
30. 48B: Demand Indicator: Indicates whether a demand is required, using a 4-character code.
31. 48D: Transfer Indicator: Indicates whether the undertaking is transferable, using a 4-character code.
32. 45L: Underlying Transaction Details: Details about the underlying transaction, up to 50 lines of 65 characters each.
33. 24E: Delivery of Original Undertaking: Instructions for delivering the original undertaking, formatted as /4 characters/[up to 35 characters].
34. 24G: Delivery to: Details about the delivery recipient, formatted as /4 characters/[up to 6 lines of 35 characters each].
35. 23X: File Identification: The file identification code, formatted as /4 characters/[up to 65 characters].

What happens if I fail to submit this form?

Failure to submit the MT 760 form can lead to delays in trade finance transactions and potential financial losses. It is crucial to ensure timely and accurate submission to avoid any issues.

Transaction Delays: Delays in processing trade finance transactions due to incomplete or late submission.
Financial Losses: Potential financial losses if the undertaking is not processed in time.
Legal Implications: Possible legal issues arising from non-compliance with trade finance requirements.

How do I know when to use this form?

The MT 760 form should be used in various trade finance situations, particularly when issuing guarantees or standby letters of credit.

1. Payment Guarantees: Use this form to secure payment guarantees for both importers and exporters.
2. Standby Letters of Credit: Necessary for issuing standby letters of credit in trade finance transactions.
3. Trade Agreements: Essential for drafting and finalizing trade agreements between parties.
4. Risk Mitigation: Helps mitigate risks associated with international trade transactions.
5. Financial Assurances: Provides financial assurances to both parties involved in the trade.

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