What is Field 47A: Additional Conditions?
Field 47A: Additional Conditions is a field in MT 700 swift message type that contains a description of further conditions of the documentary credit.
This is an optional field.
According to current letter of credit rules complying presentation means a presentation that is in accordance with the terms and conditions of the credit, the applicable provisions of these rules and international standard banking practice.
Beneficiaries should carefully examine the additional conditions section.
The issuing banks state special requirements regarding the requested documents under this field such as signature requirements, attestation requirements, date requirements etc…
If there is any unclear article exists under the additional conditions field, please do not hesitate to contact the issuing bank for further clarification.
Examples:
- All documents must be dated and signed.
- All documents must indicate the beneficiary’s name.
- Bill of lading bearing charges additional to freight mentioned on articles 26(c) of UCP 2007 Revision Publication 600 prohibited.
- L/C reference no TF1808669450 must be indicated on all documents except proforma invoice.
MT 700
Field 47A: Additional Conditions:
DEFINITION
This field contains a description of further conditions of the documentary credit.
USAGE RULES
- In case the documentary credit is subject to any rules for which no code words are provided in field 40E, further details should be specified in this field.
- To cater for lengthy documentary credits, up to three MT 701s may be sent in addition to an MT 700. However, field 47a may appear in only one message, ie, either in the MT 700 or in one MT 701. This means that in any documentary credit, there is a limit of 100 lines of 65 characters to specify the additional conditions.
- Where applicable, for credits subject to eUCP:
- If presentation of both electronic records and paper documents is allowed, the place for presentation of the electronic records (ie, the electronic address to which presentation must be made) as well as the place for presentation of the paper documents must be specified in this field.
- If presentation of only electronic records is allowed, the place for presentation of the electronic records (ie, the electronic address to which presentation must be made) must be specified in this field.
- If not already part of the original documentary credit, the advising bank, ie, the receiver of the message, must provide the beneficiary or another advising bank with the electronic address of the issuing bank. Furthermore, the advising bank must provide the beneficiary or another advising bank with the electronic address where they wish the electronic records to be presented.
- In case the electronic address contains the “@” sign, the latter should be replaced by “(AT)”. In case the electronic address contains the “_”, the latter should be replaced by “(UNDERSCORE)”.
