What is Field 57a: Advise Through Bank?
Field 57a: ‘Advise Through’ Bank is a field in MT 700 swift message type that identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.
This is an optional field.
According to current letter of credit rules;
- advising bank means the bank that advises the credit at the request of the issuing bank.
- a credit and any amendment may be advised to a beneficiary through an advising bank. An advising bank that is not a confirming bank advises the credit and any amendment without any undertaking to honour or negotiate.
- an advising bank may utilize the services of another bank (“second advising bank”) to advise the credit and any amendment to the beneficiary. A bank utilizing the services of an advising bank or second advising bank to advise a credit must use the same bank to advise any amendment thereto.
- if a bank is requested to advise a credit or amendment but elects not to do so, it must so inform, without delay, the bank from which the credit, amendment or advice has been received.
MT 700
Field 57a: ‘Advise Through’ Bank:
DEFINITION
This field identifies the bank, if different from the Receiver, through which the documentary credit is to be advised/confirmed to the beneficiary.
