NNRV Trade Partners
Montreal HQ • Global Desks
SWIFT MT700 Letters of Credit — End-to-End Issuance Support
We structure, draft, and coordinate UCP 600-compliant MT700 LCs with your bank and counterparties—minimizing discrepancies, accelerating shipments, and securing clean presentations.
UCP 600 • ISBP 745
KYC/AML & Sanctions
24–48h intake
100+ countries
How the MT700 LC Process Works
- Buyer & Seller sign a trade agreement (INCOTERMS, shipment windows, documents).
- Buyer requests issuance from their bank (applicant/issuing bank).
- Issuing bank transmits the LC via SWIFT MT700 to the advising bank.
- Seller reviews LC, ships goods, and presents documents per LC terms.
- Issuing bank examines documents and pays/accepts upon compliance.
Documents Needed for MT700
- Final sales contract including LC terms
- Buyer & seller KYC files (compliance/screening)
- Draft LC (by NNRV or buyer’s bank)
- Bank coordinates (SWIFT/BIC, IBAN/Account)
- Commercial docs (PI, invoice, packing list, B/L or AWB, insurance, COO)
We align every field to ISBP 745 to reduce discrepancy risk.
Why Use SWIFT MT700?
| 🔒 Feature | ✅ Benefit |
|---|---|
| Official SWIFT LC format | Trusted by banks worldwide |
| UCP 600 rule-set | Clear legal protection for both parties |
| Structured, field-by-field | Machine-parsable, reduces ambiguity |
| Trackable & timestamped | Full audit trail and message trace |
| Backbone for all major LCs | Required in most cross-border flows |
NNRV’s Structuring Process
- Drafting: We prepare a clean MT700 draft, field-by-field.
- Alignment: Match contract clauses, bank conditions, and document list.
- Transmission: Coordinate with issuing bank to send SWIFT to advising bank.
- Monitoring: Confirm arrival, advising/confirming actions, and any queries.
- Presentation: We coach on document preparation and follow payout through.
| SWIFT Type | Purpose | Payment Binding? |
|---|---|---|
| MT700 | Primary LC issuance | ✅ Yes |
| MT799 | Pre-advice / intent | ❌ No |
| MT760 | SBLC/Guarantee issuance | ✅ Yes |
| MT199/999 | Free-format instructions | ❌ No |
Trusted Banks That Issue MT700 (20+)
BIC/SWIFT references are indicative; exact branch codes vary by file. Click a code to copy.
| Bank Name | SWIFT Code | Strengths | Challenges | Fees Range | Issuance Time | Min. Deal | LC Types |
|---|---|---|---|---|---|---|---|
| HSBC Hong Kong | HSBCHKHHXXX | Fast global SWIFT; UCP 600 experts | Higher compliance scrutiny | 1%–9% | 1–5 days | $500K | MT700, Confirmed |
| BNP Paribas Hong Kong | BNPAHKHHXXX | EU–Asia corridors | May require draft pre-approval | 1.2%–8.3% | 2–6 days | $500K | MT700, Transferable |
| Credit Foncier GmbH | CFEGDE82 | EU structuring accuracy | Slower non-EU flows | 1.3%–9% | 2–7 days | $500K | MT700, Irrevocable |
| Standard Commerce Bank (USA) | STDMDMDMXXX | Americas corridors | Complex KYC | 1.1%–8.7% | 2–6 days | $500K | MT700, Confirmed |
| ABC Banking Corporation | ABCKMUMU | SME/Africa friendly | Restricted currencies | 1.2%–8.5% | 2–5 days | $250K | MT700, Usance |
| JPMorgan Chase | CHASUS33 | Global reach | Strict compliance | 1%–7% | 2–5 days | $1M | MT700, Confirmed |
| Citi | CITIUS33 | Multi-currency hubs | Documentation rigor | 1%–7% | 2–5 days | $1M | MT700, Sight/Usance |
| Bank of America | BOFAUS3N | North America strength | Strict eligibility | 1%–7% | 2–6 days | $1M | MT700 |
| BNP Paribas (France) | BNPAFRPP | EU leadership | High documentation quality | 1%–7% | 2–6 days | $1M | MT700, Transferable |
| Crédit Agricole | AGRIFRPP | EU trade/Agri | Conservative terms | 1%–7% | 2–6 days | $1M | MT700 |
| Société Générale | SOGEFRPP | Structured trade | Detailed KYC | 1%–7% | 2–6 days | $1M | MT700, Confirmed |
| Deutsche Bank | DEUTDEFF | Global network | Complex AML | 1%–8% | 2–6 days | $1M | MT700 |
| Commerzbank | COBADEFF | EU SMEs | Weekends limited | 1%–7% | 2–4 days | $500K | MT700, Usance |
| Barclays | BARCGB22 | UK corridors | Strict docs | 1%–7% | 2–5 days | $750K | MT700 |
| NatWest Markets | NWBKGB2L | UK/EU trade | Conservative wording | 1%–7% | 2–5 days | $750K | MT700 |
| HSBC London | MIDLGB22 | Asia–EU bridge | Pre-checks heavy | 1%–8% | 1–4 days | $1M | MT700, Confirmed |
| DBS (Singapore) | DBSSSGSG | APAC expertise | Strict timelines | 1.2%–7% | 2–5 days | $500K | MT700 (Sight/Usance) |
| OCBC (Singapore) | OCBCSGSG | ASEAN corridors | Conservative LC text | 1.2%–7% | 2–5 days | $500K | MT700 |
| UOB (Singapore) | UOVBSGSG | ASEAN supply chains | Detailed doc check | 1.2%–7% | 2–5 days | $500K | MT700 |
| Bank of China | BKCHCNBJ | Global China network | Strict LC wording | 1%–7% | 2–6 days | $1M | MT700, Transferable |
| ICBC | ICBKCNBJ | Large project flows | Longer approvals | 1%–7% | 3–7 days | $1M | MT700 |
| China Construction Bank (HK) | CCBQHKAX | HK gateway | Formality in docs | 1%–7% | 2–6 days | $750K | MT700 |
| Standard Chartered (Dubai) | SCBLAEAD | MENA/Africa hub | Regional alignment | 1.2%–7% | 2–4 days | $500K | MT700, Confirmed |
| Emirates NBD | EBILAEAD | GCC trade | Doc conservatism | 1.2%–7% | 2–5 days | $500K | MT700 |
| First Abu Dhabi Bank | NBADAEAA | Energy/O&G | Pre-KYC strict | 1.2%–7% | 2–5 days | $1M | MT700 |
| Qatar National Bank | QNBAQAQA | GCC projects | Regional criteria | 1.2%–7% | 2–5 days | $1M | MT700 |
| RBC (Canada) | ROYCCAT2 | CAD/USD corridors | Eligibility checks | 1%–7% | 2–5 days | $500K | MT700 |
| Scotiabank (Canada) | NOSCCATT | Americas networks | Doc precision | 1%–7% | 2–5 days | $500K | MT700 |
| TD (Canada) | TDOMCATT | North America | Conservative terms | 1%–7% | 2–5 days | $500K | MT700 |
| UniCredit | UNCRITMM | EU industrial | Detailed LC text | 1%–7% | 2–6 days | $750K | MT700 |
| Santander (Spain) | BSCHESMM | EU/LatAm bridge | Higher scrutiny | 1%–7% | 2–6 days | $750K | MT700 |
| PG Asia Investment Bank | AINEMY22 | APAC agility | Recognition varies | 1%–7% | 2–5 days | $250K | MT700 |
| Dushanbe City Bank | LCMDTJ22 | Frontier markets | Lower visibility | 1%–8% | 3–7 days | $250K | MT700 |
| Asia Pacific Investment Bank | ASPMMYKL | Growing APAC | Less EU acceptance | 1%–7% | 2–5 days | $300K | MT700 |
| Unibanque (UK) | UNBQGB22 | SME-friendly | Strong documentation | 1%–7% | 2–6 days | $500K | MT700, Transferable |
Secure LC Intake (Buyer/Applicant or Seller/Exporter)
All submissions are encrypted in transit. We may decline files that present elevated compliance or reputational risk.
Client Reviews (10)
A. Chen — APAC Components ★★★★★
“Field-perfect MT700 draft, zero discrepancies.”
M. Diallo — Agro SSA ★★★★★
“Advising bank aligned in hours, not days.”
R. Patel — Bharat Industrials ★★★★★
“Clean presentation and quick value date.”
L. Santos — LatAm Metals ★★★★☆
“Holiday delay noted; otherwise spotless.”
S. Ahmed — GCC EPC ★★★★★
“Confirmation arranged within 48h.”
E. Novak — EU Machinery ★★★★★
“Tight shipment windows, exacting docs—approved.”
C. Wang — HK Trading ★★★★★
“Solved a 43P/partial shipment clause elegantly.”
J. Brown — NA Retail ★★★★★
“Transparent fee schedule, no surprises.”
Y. Kim — KR Energy ★★★★★
“Advising bank queries pre-empted by ISBP coaching.”
G. Rossi — IT Textiles ★★★★★
“LC wording matched suppliers in 3 countries.”
Frequently Asked Questions (15)
1) What’s the difference between Sight and Usance LC?
Sight pays upon compliant presentation; Usance pays at maturity (e.g., 60/90/120 days). Both are issued via MT700.
2) Can we allow partial shipments?
Yes—set field 43P = ALLOWED and align shipment tolerances/periods to avoid discrepancies.
3) Do I need confirmation?
If the issuing bank/country risk is a concern, add confirmation (bank’s irrevocable undertaking) for exporter comfort.
4) What causes most discrepancies?
Mismatched descriptions, late shipments, stale insurance, missing signatures, or wrong Incoterms references.
5) Can an LC be transferable?
Yes—if field 40A/46A allow it. We can structure first/second beneficiary clauses carefully.
6) Who chooses the advising bank?
Typically the issuing bank routes to a correspondent/advising bank acceptable to the beneficiary; preferences can be noted.
7) What is the role of ISBP 745?
It’s the practice guide for document examination. We draft/coaching to ISBP 745 to minimize queries.
8) How fast can we issue?
With complete KYC and a clean draft, many banks issue within 2–5 business days.
9) What if the LC needs amendment?
Use MT707. Amendments require applicant and beneficiary acceptance; fees may apply.
10) Who pays the charges?
Field 71B defines charges allocation (e.g., “ALL BANKING CHARGES OUTSIDE APPLICANT’S COUNTRY FOR BENEFICIARY’S ACCOUNT”).
11) Can we include a Red Clause?
Yes—pre-shipment advance to the seller. Requires careful risk assessment and wording.
12) What about reimbursement?
For confirmed LCs, MT740 to a reimbursing bank can speed settlement to the confirming/advising bank.
13) Are Incoterms mandatory?
Not mandatory but strongly recommended; they guide risk/title, insurance, and document logic.
14) Which documents are most critical?
Transport document (B/L or AWB), commercial invoice, packing list, insurance (if CIF/CIP), and any certificates (COO, inspection).
15) Can we add latest shipment date tolerance?
Yes—use clear shipment period/expiry place and allow reasonable tolerance (e.g., +/- 5%) where applicable.
Compliance & Standards
All cases undergo KYC/AML & sanctions screening. LC wording is aligned to issuer policy and corridor requirements. We may decline engagements with elevated compliance or reputational risk.