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

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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.
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If you issue a MT760 and you instruct your bank no to send it out of the bank is there a danger to your MT760?

Your funds will get blocked it may get stagnated you will have no control over it call back. ans Question makes no sense as YOU don't issue this form, a bank does and it is

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 an MT-

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 ba

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 imple

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 exceed

Is SWIFT MT760 blocking of funds?

The MT760 will block the funds on the client's account, and the client will not be able to use the funds on this account, at least below the blocked amount. The bank can also

What is the difference between MT799 MT760?

MT 760 and MT 799 are standardised type of messages used in SWIFT  messaging system. Swift is an an acronym for Society for Worldwide  Interbank Financial Telecommunication.

What is MT760 SBLC?

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

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

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