Financial institutions, mainly banks, send messages through SWIFT. These are usually available in encrypted forms, and hence are a reliable and valid form of communication for banks.
These messages do not just play a pivotal role in letters of credit but also in other payment methods inclusive of international trade. These involve documentary collections, advance payment, and bank payment obligations.
Based on different purposes, there are various categories of SWIFT messages available. The Discrepancy message in SWIFT is also called MT750.
We at Alliance Digital Corporation Banque
, help you throughout the process of sending these messages. They are sent by banks to which documents are supposed to be presented by the issuing bank. During a deferred payment undertaking, this message can also be sent to the bank nominated.
The main purpose that this message serves is to advise the receiver about the documents which need to be presented. These documents are not in accordance with the terms and conditions of credit. It basically acts as a request for authorisation for taking up the documents.
Following this discrepancy message, the authorisation is provided through MT752, which is the authorisation to pay, negotiate or accept. If a negative reply is to be requested from the customers, it is provided using the MT 796 answers.