To define the bank, you can present your documents to, i.e. availability and what the type of payment is, i.e. settlement.
- Enter the SWIFT subfield 41A or 41D to the Available with field where:
- 41A: is the bank BIC address, and
- 41D: is the full bank name and address. When the credit is to be freely negotiable by any bank, the either the text ‘Any bank in ... (city or country)’ populates this field or, if freely negotiable by any bank anywhere in the world, no specific country is indicated.
The Available with Bank in most cases is identical to your Advising Bank but can also be the Issuing Bank, any Bank or another specific bank. Choose the value from the dropdown list accordingly.
When the bank does not match any of the options listed, choose Other and enter the bank details in the free text field which pops up.
- Enter the method of settlement, i.e., payment. Additional fields can pop up or become mandatory, depending on the value you choose for the Available By field entered from the second 41A or 41D SWIFT sub-fields.
- Enter the Payment data in the:
- Drafts at, from the SWIFT field 42C field,
- Draft drawn on, from the SWIFT field 42A/D - Drawee. Choose the Advising Bank, Issuing Bank or Other accordingly. When you choose Other, enter the details in the free text field which pops up.
- Enter the Deferred Payment:
- Negotiation/Deferred Payment Details, as in the SWIFT 42P field
- Draft drawn on, choose option No Draft
- Drafts at, as in the SWIFT 42C field
- Draft drawn on, as in the SWIFT 42A/D field- Drawee. Choose either Advising Bank, Issuing Bank or Other. When you choose Other enter the details in the free text field that pops up.
- Mixed Payment:
- Mixed Payment Details, enter data from the SWIFT 42M field
- Draft drawn on, choose No Draft.
- Negotiation: The valid combinations are Negotiation/Deferred Payment Details, as in the SWIFT tag 42P & Drafts drawn on = No Draft
- Mixed Payment Details, as in SWIFT tag 42M & Drafts drawn on = No Draft
- Drafts at, as in the SWIFT tag 42C & Drawee, and in SWIFT tag 42A/D
Once you have entered all fields, click 'Save & Continue'.
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