What would you like to do?

What is the difference between MT760 and MT799 and why will some Lenders only accept MT760?

already exists.

Would you like to merge this question into it?

already exists as an alternate of this question.

Would you like to make it the primary and merge this question into it?

exists and is an alternate of .

MT 760 is blocking funds or a guarantee placed by the client. Issue it, and it gone, but beware it has several fields that determines how the funds can be called on. Once in MT760 the funds or guarantee is operative, and can be called on by the beneficiary.

MT 799 is free text format in reference to a guarantee or a letter of credit. So the text of the MT799 can be anything, including "Moms best pancake recipe" as long as it is related to the guarantee or L/C in place. Typical use of MT799 is to exchange information that triggers payment or the guarantee.

MT799 is not intended to be used to confirm that a client is capable of this and that, and will never confirm availability of funds. That is only applicable on Internet traders, joker brokers and wishful legal counselors ignorant of banking. No lender will accept "Moms best recipes" as anything more than what they are worth.
6 people found this useful
Thanks for the feedback!

What is an mt760?

A MT760 is a Bank Guarantee and Letter of Credit form. It is calleda Swift Class 7 in the investing and financial markets.

What is MT760?

MT760 This is a Swift class 7: Bank Guarantee and Letter of Credit procedure, Procedure 60: Blocked Funds. The Course of Action When Your Bank Issues An MT-760: When

What is a MT760?

MT760 is a document form used in a bankruptcy. It is a Swift class7 Bank Guarantee and Letter of Credit Procedure 60. This basicallyrequests that your bank puts a hold on your

What is the MT760?

An MT760 is a confirmation of Bank Guarantees sent to another bankvia inter-communication with the other bank. This is associatedwith bank jargon and not related to the consum

Will most US banks accept MT760 from major foreign banks?

MT760 is a transactions authorizing the bank to hold funds associated with a project or to issue a letter of credit. MT760 is a risky undertaking and that the business does no

List of swift message type Such as MT199 MT799 or MT760?

MTnyy, where the "n" is the Message "Class" - e.g. "7" is Guarantees and Letters of Credit", yy is message number within the class. MT760 is message number 60:i blocking funds

What is the difference between MT799 MT760?

MT 760 and MT 799 are standardised type of messages used in SWIFTmessaging system. Swift is an an acronym for Society for WorldwideInterbank Financial Telecommunication. It en

What is SWIFT MT760?

What Is SWIFT? SWIFT is the Society for Worldwide Interbank Financial Telecommunications. This is a Belgian organization, founded in 1973 in response to a UN request to imp

What does MT760 mean?

MT 760 is a message type used in SWIFT messaging system. It refersto messages transmitted through SWIFT system and pertains to standby letter of credits and gurantees.

How safe is mt760?

How safe is mt760 or are the mt760 is safe ? The MT760 is backed by the assets of issuing bank - not by any lawyer, financial broker or investor. if the blocked funds exce

What is MT103 and MT760?

MT103 and MT760 are international financial transaction codenumbers. The code, MT103 SWIFT message is the most commonly used.

What is MT700 and MT760 and MT799?

MT700 is an issue of a documentary credit. MT760 is a SWIFTmessage. MT799 is a text message. All of these are used in thebanking industry to indicate transactions of a certain
In Uncategorized

How can you get an MT760?

Answer MT760 is in finance and banking a Swift procedure in class 7 - "Bank Guarantees and Letters of Credit" - where the client's bank blocks funds for the beneficiary's
In Uncategorized

What is MT760 SBLC?

MT760 is a Stand By Letter of Credit or SBLC. This form is theUnited States version of the Bank Guarantee.