Letter of Credit Advice via MT740 – Reimbursement-Backed
Advising for Confirmed LCs SWIFT MT740 Transmission | Reimbursement Authority for Confirming Banks | UCP 600 Aligned
⚠️ Are You a Confirming Bank Needing Reimbursement Security From the Issuing Bank?
A European confirming bank added its confirmation to a $7.5M LC but wanted reimbursement assurance. The issuing bank sent a SWIFT MT740 message to the reimbursing bank—providing a clear authority to pay the confirming bank upon document compliance.-
🧠 “MT740 gave us the legal backing to pay the exporter with zero risk. NNRV managed the whole structure.” – Charles D., Head of Trade Finance – Paris
What Is a Letter of Credit Advice via MT740?
An MT740 is a SWIFT message used by the issuing bank to authorize a reimbursing bank to honor claims from a confirming or nominated bank under a Letter of Credit. It serves as a reimbursement undertaking, often following confirmation via MT700 or MT710. At NNRV, we structure MT740 messages to ensure the confirming bank is legally protected and reimbursed promptly, minimizing interbank disputes.-
🧠 “With MT740, we get paid back fast after confirming LCs for emerging market banks.” – Fatima K., Africa Desk – Frankfurt
Key Benefits of MT740-Based LC Advice
✅ Reimbursement Guarantee – Confirming bank is assured of repayment. ✅ Used With Confirmed or Nominated LCs – Reinforces trust between banks. ✅ Reduces Settlement Risk – Funds are pre-authorized for drawdown. ✅ Full SWIFT Audit Trail – Timestamped instructions under UCP 600. ✅ Ideal for Cross-Border or Multi-Bank LC StructuresMT740 Reimbursement — Seamless Payouts for Confirmed Letters of Credit
We structure confirmed LC flows where the issuing bank authorizes a reimbursing bank via MT740, enabling the confirming bank to be paid promptly after compliant presentation.
UCP 600 • ICC
KYC/AML & Sanctions Screening
100+ Countries • 200+ Institutions
24–48h Intake
How It Works
- Issuing Bank issues LC (MT700).
- Confirming Bank adds confirmation (via MT710 or directly).
- Issuing Bank sends MT740 to Reimbursing Bank.
- Confirming Bank presents docs & requests reimbursement.
- Reimbursing Bank pays per MT740 authorization.
Clear SWIFT choreography → faster, traceable settlements.
🎯 Why Use MT740?
| Feature | Benefit |
|---|---|
| Reimbursing bank authorized | Confirming bank’s payout is pre-cleared |
| SWIFT standard | Auditability & end-to-end traceability |
| Confirmed LC support | Fits MT700/MT710 confirmations |
| Faster turnaround | Clear reimbursement instruction |
| Complex chains | Ideal where 3+ banks are involved |
📂 Documents Required for MT740 Execution
- Final LC (MT700/MT710) with confirmation & reimbursement clause
- Reimbursement agreement between issuing & reimbursing banks
- SWIFT-enabled credentials for all banks involved
- Seller’s documents: commercial invoice, B/L/AWB, inspection report, etc.
- Bank compliance files: KYC/AML, sanctions screening as required
We verify field consistency across all messages (MT700/710/740/747).
🏦 Trusted Banks That Accept/Support MT740 Reimbursements (Selection)
Indicative list (20). Availability depends on corridor, appetite, and inter-bank arrangements.
| Reimbursing / Paying Bank | SWIFT/BIC | Strengths / Notes | Typical Settle Time | Typical LC Range |
|---|---|---|---|---|
| JPMorgan Chase, New York | CHASUS33 | Global reach, fast SWIFT matching | 1–3 days | $0.5–100M |
| Commerzbank, Frankfurt | COBADEFF | Strong EU reimbursement | 2–4 days | $0.5–80M |
| HSBC, London | MIDLGB22 | Asia-EU corridor specialist | 1–2 days | $1–200M |
| Standard Chartered, Dubai | SCBLAEAD | MEA hub | 2–3 days | $0.25–50M |
| State Bank of India | SBININBB | Asia local reimbursements | 2–5 days | $0.25–20M |
| Citi, New York | CITIUS33 | Global payouts, multi-ccy | 1–3 days | $1–200M |
| Bank of New York Mellon | IRVTUS3N | US dollar clearing strength | 1–3 days | $1–150M |
| Deutsche Bank, Frankfurt | DEUTDEFF | Well-established reimbursement desks | 2–4 days | $1–150M |
| Barclays, London | BARCGB22 | GBP/EUR corridors | 1–3 days | $0.5–75M |
| BNP Paribas, Paris | BNPAFRPP | EU anchor | 2–4 days | $1–150M |
| Crédit Agricole, Paris | AGRIFRPP | Structured trade support | 2–4 days | $0.5–80M |
| Bank of China, Hong Kong | BKCHHKHHXXX | APAC EPC flows | 2–4 days | $1–150M |
| China Construction Bank, Hong Kong | CCBQHKAX | Large-ticket capacity | 2–4 days | $1–200M |
| DBS Bank, Hong Kong | DHBKHKHH | APAC execution | 2–3 days | $0.5–100M |
| Standard Chartered, Hong Kong | SCBLHKHHXXX | Global network | 2–3 days | $0.5–100M |
| UOB, Singapore | UOVBSGSG | SEA corridors | 2–3 days | $0.5–80M |
| First Abu Dhabi Bank | NBADAEAA | GCC project flows | 2–4 days | $1–150M |
| Mashreq Bank, UAE | BOMLAEAD | Agile reimbursements | 2–3 days | $0.25–50M |
| Société Générale, Paris | SOGEFRPP | EU project finance | 2–4 days | $0.5–80M |
| UniCredit, Milan | UNCRITMM | EUR-based trade flows | 2–4 days | $0.5–80M |
Figures are indicative. Final eligibility depends on inter-bank agreements, corridor, sanctions, and compliance.
🔑 Key MT740 Fields We Validate
| Field | Purpose |
|---|---|
| 20 | Sender’s reference |
| 21 | Related reference (LC) |
| 32B | Currency/amount authorized |
| 57a | Account with bank |
| 58a | Beneficiary bank (confirming) |
| 72 | Sender to receiver information |
📌 Quick Guides by Role
- Issuing Banks: Align LC text & reimbursement terms; pre-agree reimbursing bank.
- Confirming Banks: Ensure LC & MT740 parity; prepare clean presentation workflow.
- Reimbursing Banks: Confirm arrangements; define settlement windows & cut-offs.
- Exporters: Coordinate docs for zero discrepancies; confirm advising bank procedures.
- Importers: Ensure contractual terms match LC and shipment realities.
❓ Frequently Asked Questions (15)
1) Do we always need a reimbursing bank?
No, but MT740 is recommended when payout is delegated to a third bank for speed and clarity.
2) Is MT740 only for confirmed LCs?
It’s commonly used in confirmed structures but can be used where reimbursement is delegated.
3) Who selects the reimbursing bank?
Typically the issuing bank; it should be referenced in the LC and reimbursement agreement.
4) How fast is reimbursement?
Often 1–4 business days after compliant presentation and claim.
5) What causes reimbursement delays?
Message mismatches (MT700/710 vs 740), cut-off times, incomplete docs, or compliance holds.
6) Can the amounts be partial?
Yes, provided the LC allows partial drawings and amounts are reconciled in MT740.
7) Which rules apply?
UCP 600 for DCs; bilateral reimbursement agreements govern payout mechanics.
8) Do you support multi-currency?
Yes; currency must align across messages and reimbursement scope.
9) What’s in an MT747?
Amendments to the reimbursement terms authorized by the issuing bank.
10) Can you add confirmation after issuance?
Often yes, via MT710 or bank advice, subject to appetite and LC wording.
11) Do you help draft LC text?
Yes—bank-ready drafts to align LC, confirmation, and reimbursement fields.
12) How do sanctions affect reimbursement?
We screen all parties, banks, vessels, and routes; hits can halt payout.
13) What minimum deal sizes do you handle?
Generally from ~$250k; larger for some corridors/banks.
14) Can you coordinate discounting?
Yes—subject to confirmer and insurer appetite.
15) Do you sign NDAs?
Yes, mutual NDAs and secure data rooms with audit logs.
💬 Client Reviews (15)
A. Karim — GCC EPC★★★★★
MT740 flow paid our confirmer in 48h. Clean execution.
L. Novak — EU Agri★★★★★
They harmonized MT700/710/740 perfectly. No discrepancies.
H. Wang — APAC OEM★★★★☆
Cut-off timing explained upfront; funds arrived next day.
P. Silva — LatAm Ports★★★★★
Reimbursing bank set early; settlement was predictable.
E. Mensah — West Africa★★★★★
Great coordination with confirming bank and insurer.
S. Ivanov — Rail★★★★★
Amendment via MT747 handled same day. Impressive.
N. O’Connor — Pharma★★★★★
Compliance was tight; zero surprises at payout.
R. Patel — Energy★★★★☆
One extra KYC loop, still settled within 72h.
K. Yamada — Electronics★★★★★
Field mapping checklist saved a week.
M. Diallo — Mining★★★★★
Discounting arranged after confirmation—smooth cash flow.
C. Rossi — Construction★★★★★
Great multi-bank orchestration and reporting.
Z. Khaled — Logistics★★★★★
They aligned LC and shipment realities perfectly.
D. Nguyen — Textiles★★★★★
Transparent fees; settlement matched the SLA.
G. Brown — Timber★★★★☆
Holiday cut-off noted in advance—no surprises.
I. Popescu — Metals★★★★★
Best LC drafting support we’ve had.
🛠️ Our Structuring Process
- Review MT700/710 LC confirmation terms
- Coordinate with issuing & reimbursing banks
- Draft/validate MT740 reimbursement format
- Ensure field consistency across messages
- Monitor reimbursement claims & settlement
🔍 MT740 vs Other SWIFT LC Messages
| Message | Purpose | Used By | Binding? |
|---|---|---|---|
| MT700 | Issue main LC | Issuing bank | ✅ Yes |
| MT710 | Advise/Confirm LC | Advising/Confirming bank | ✅ Yes |
| MT740 | Authorize reimbursement | Issuing → Reimbursing | ✅ Yes |
| MT747 | Amend reimbursement terms | Issuing bank | ✅ Yes |
📩 Start an MT740-Enabled LC
We’ll route your file to the right regional desk and respond within 24–48 hours.
Global Desks
- Americas: Montréal • New York • Miami • São Paulo
- Europe: London • Paris • Frankfurt • Zurich • Milan
- Middle East: Dubai • Abu Dhabi • Doha • Riyadh
- Africa: Casablanca • Lagos • Nairobi • Johannesburg
- Asia: Singapore • Hong Kong • Kuala Lumpur • Mumbai
UCP 600
KYC • AML • Sanctions
Institutional & Private Capital
Disclaimer: Content is informational and non-binding. All engagements are subject to full KYC/AML, sanctions checks, and final institutional approvals.
Why NNRV?
🔒 MT700–MT710–MT740 Alignment Experts ✅ SWIFT Drafting for Multi-Bank LC Chains 📄 Document Audit & Reimbursement Mapping 🌍 40+ Country Bank Network 📁 Compliance-Ready LC Infrastructure💲 MT740 Structuring Notes
Fees typically vary from 1% to 9%, based on: • Bank risk level and jurisdiction • Reimbursement bank agreement • Volume and frequency of LCs 🔹 Request your MT740 quote for confirmed LC issuance.📚 What Makes Us Different?
✔️ Multi-Bank LC Message Coordination ✔️ Reimbursement-Backed LC Engineering ✔️ SWIFT Message Consistency Checks 📌 From $250K to $100M+ LC flows structured with MT740🔗 Related Services
• MT700 LC Structuring • MT710 Confirmed LC • MT747 LC Amendments • Risk-Sharing LC Structuring📖 Strategic Blog Posts
• How MT740 Works in LC Confirmation Chains • MT740 vs MT700 vs MT710 – What’s the Difference? • Building Reimbursement-Backed LCs With Confidence🚀 Structure Your Reimbursement LC via MT740 Today!
Reimburse confidently. Confirm with assurance. Let NNRV build your LC + MT740 structure. 📩 Book Your MT740 Strategy Call ☎️ Talk to Our LC Desk | 🌍 Multi-Bank Structuring | ✅ UCP 600 + SWIFT AlignedLetter of Credit Advice via MT740 – Reimbursement-Backed
SWIFT MT740 for Confirmed LCs | Reimbursement Authority | UCP 600 Aligned
Introduction
A Letter of Credit (LC) advised via SWIFT MT740 provides a legal reimbursement framework for confirming banks. It ensures that once documents are presented in compliance with the LC, the confirming or nominated bank is reimbursed promptly by the reimbursing bank. This reduces interbank risk and aligns with UCP 600 standards. MT740 is ideal for multi-bank or cross-border transactions requiring reimbursement certainty.
Contact: Email: info@nnrvtradepartners.com | WhatsApp: +1-514-581-2469
What Is an MT740?
An MT740 is a SWIFT message used by the issuing bank to authorize a reimbursing bank to pay a confirming or nominated bank under an LC. Typically, MT740 follows MT700 or MT710 issuance and confirmation. Key benefits include:
- Reimbursement guarantee: Confirms payment to the confirming bank.
- Reduced settlement risk: Funds are pre-authorized for drawdown.
- Traceable SWIFT audit trail: Timestamped instructions under UCP 600.
- Supports complex chains: Useful for 3+ bank structures.
Example: A European bank confirms a $7.5M LC but requires reimbursement assurance. The issuing bank sends MT740 to a reimbursing bank, ensuring the confirming bank is paid without risk.
How It Works – Step by Step
- Issuing Bank issues LC (MT700).
- Confirming Bank adds confirmation (via MT710 or directly).
- Issuing Bank sends MT740 to the reimbursing bank.
- Confirming Bank presents documents & requests reimbursement.
- Reimbursing Bank pays according to MT740 authorization.
Key Benefits of MT740-Based LC Advice
| Feature | Benefit |
|---|---|
| Reimbursing bank authorized | Confirming bank’s payout is pre-cleared |
| SWIFT standard | Auditability & traceability |
| Confirmed LC support | Compatible with MT700/710 |
| Faster turnaround | Clear reimbursement instruction |
| Multi-bank chains | Works with complex LC structures |
Documents Required for MT740 Execution
- Final LC (MT700/MT710) with confirmation & reimbursement clause
- Reimbursement agreement between issuing & reimbursing banks
- SWIFT-enabled credentials for all banks involved
- Seller’s documents: commercial invoice, B/L/AWB, inspection report, etc.
- Bank compliance files: KYC/AML, sanctions screening as required
Trusted Banks That Accept/Support MT740 Reimbursements
Indicative list of reimbursing/paying banks (availability depends on corridor, appetite, and inter-bank arrangements):
| Bank | SWIFT/BIC | Strengths / Notes | Typical Settle Time | Typical LC Range |
|---|---|---|---|---|
| JPMorgan Chase, New York | CHASUS33 | Global reach, fast SWIFT matching | 1–3 days | $0.5–100M |
| Commerzbank, Frankfurt | COBADEFF | Strong EU reimbursement | 2–4 days | $0.5–80M |
| HSBC, London | MIDLGB22 | Asia-EU corridor specialist | 1–2 days | $1–200M |
| Standard Chartered, Dubai | SCBLAEAD | MEA hub | 2–3 days | $0.25–50M |
| State Bank of India | SBININBB | Asia local reimbursements | 2–5 days | $0.25–20M |
Key MT740 Fields We Validate
| Field | Purpose |
|---|---|
| 20 | Sender’s reference |
| 21 | Related reference (LC) |
| 32B | Currency/amount authorized |
| 57a | Account with bank |
| 58a | Beneficiary bank (confirming) |
| 72 | Sender to receiver information |
Frequently Asked Questions (Sample)
- Do we always need a reimbursing bank?
- Is MT740 only for confirmed LCs?
- Who selects the reimbursing bank?
- How fast is reimbursement?
- What causes reimbursement delays?
- Can the amounts be partial?
- Which rules apply?
- Do you support multi-currency?
- What’s in an MT747?
- Can you add confirmation after issuance?
Start an MT740-Enabled LC
We route your file to the right regional desk and respond within 24–48 hours.
Advanced Structuring & MT747 Amendments for MT740
Building on our MT740 reimbursement advice, advanced LC structuring allows confirming and reimbursing banks to manage complex cross-border transactions with maximum legal and operational efficiency. By integrating MT747 amendments, NNRV ensures dynamic updates, reduced settlement risk, and compliance alignment with UCP 600 standards.
1. When to Use MT747
The MT747 is a SWIFT message used to amend or clarify reimbursement instructions previously sent via MT740. Typical use cases include:
- Adjusting authorized amounts after LC modification.
- Updating beneficiary or confirming bank details.
- Aligning reimbursement with amended MT700/710 terms.
- Correcting clerical or SWIFT field discrepancies.
2. Workflow for MT747 Amendments
Our step-by-step approach ensures smooth amendment handling:
- Identify the need for amendment via MT700/710 review or client request.
- Coordinate with issuing and reimbursing banks to confirm scope.
- Draft MT747 amendment with precise field mapping (32B, 57a, 58a, 72).
- Send draft to all banks for validation and countersignature.
- Monitor settlement post-amendment to ensure confirming bank receives payment.
3. Risk Management & Compliance
MT740 and MT747 flows carry operational and compliance risks. Key mitigation strategies include:
- Field-level validation: Ensure MT700/710/740/747 fields are consistent.
- Reimbursing bank due diligence: Pre-confirm settlement cut-offs and corridors.
- Document accuracy: Ensure all commercial, transport, and insurance documents match LC terms.
- KYC/AML & Sanctions screening: Mandatory for all counterparties.
- Partial payments & FX exposure: Define authorized drawdown and hedge currency risks.
4. Who Benefits from MT747
- Issuing Banks: Maintain control over reimbursement instructions and reduce disputes.
- Confirming Banks: Get clear, updated authority to pay exporters with zero ambiguity.
- Reimbursing Banks: Reduce settlement errors and maintain transparent audit trails.
- Exporters / Beneficiaries: Receive timely payment after compliant presentation, even in amended structures.
5. FAQs – MT747 & Advanced MT740 Use (10 Questions)
- What triggers an MT747 amendment?
A: Any change in reimbursement terms, amounts, banks, or LC amendments. - Can MT747 be partial?
A: Yes, it can modify selected fields or amounts without rewriting the entire MT740. - How long does an MT747 take to process?
A: Typically 1–3 banking days post validation. - Do all banks accept MT747?
A: Only those with prior MT740 authorization and SWIFT capability. - Does MT747 require new KYC?
A: Generally no, unless a new bank is introduced. - Can MT747 adjust multi-currency reimbursements?
A: Yes, field 32B supports multiple currency instructions. - Is MT747 legally binding?
A: Yes, it modifies existing MT740 instructions under SWIFT and UCP 600 compliance. - What happens if the MT747 is rejected?
A: NNRV coordinates corrective actions, including MT740 reconfirmation. - Can exporters see MT747 instructions?
A: No, MT747 is interbank only; exporters rely on confirming bank advice. - Is there a cost associated with MT747?
A: Fees vary by bank; typically included under MT740 administration agreements.
6. Client Success Stories
- M. Ali – Middle East EPC: MT747 amendment cleared multi-bank reimbursement discrepancies in 48 hours.
- J. Müller – EU Machinery: Adjusted beneficiary bank post-LC amendment without delaying payment.
- L. Chen – APAC Commodities: MT747 enabled FX adjustment and partial payment for large shipment.
7. Start Structuring Your MT740 & MT747 Workflow
NNRV Trade Partners routes your LC and reimbursement instructions to the right regional desk. Full structuring, field validation, and settlement monitoring included. Response within 24–48 hours.
Or Chat on WhatsApp for immediate assistance.
Letter of Credit Advice via MT740 – Ensuring Reimbursement for Confirmed LCs
A Letter of Credit (LC) advice via MT740 provides a reimbursement guarantee from the issuing bank to the confirming or nominated bank. This ensures that the confirming bank can honor payments to the beneficiary with minimal risk once the documents comply with the LC terms.
1. What is MT740?
MT740 is a SWIFT message issued by the LC issuing bank to authorize a reimbursing bank to pay the confirming bank. It ensures secure and traceable reimbursement, reducing settlement risk for multi-bank transactions.
2. Key Benefits of MT740 Advice
- Reimbursement Guarantee: Confirming bank is assured of repayment.
- Reduces Settlement Risk: Funds are pre-authorized for drawdown.
- UCP 600 Compliance: Fully aligned with international trade rules.
- Traceable Audit: Timestamped SWIFT instruction for full transparency.
- Multi-Bank Compatibility: Ideal for complex cross-border LC flows.
3. How It Works
- Issuing Bank issues the LC via MT700.
- Confirming Bank adds confirmation (via MT710).
- Issuing Bank sends MT740 to the Reimbursing Bank.
- Confirming Bank presents documents and requests reimbursement.
- Reimbursing Bank pays according to MT740 authorization.
4. Required Documents
- Final LC (MT700/MT710) with confirmation and reimbursement clause
- Reimbursement agreement between issuing and reimbursing banks
- Seller’s commercial documents (invoice, B/L, inspection report, etc.)
- Bank compliance files (KYC, AML, sanctions screening)
5. Trusted Reimbursing Banks (Examples)
- JPMorgan Chase, New York – CHASUS33
- HSBC, London – MIDLGB22
- Standard Chartered, Dubai – SCBLAEAD
- Deutsche Bank, Frankfurt – DEUTDEFF
- BNP Paribas, Paris – BNPAFRPP
6. MT740 Key Fields Validated
- 20 – Sender’s reference
- 21 – Related LC reference
- 32B – Currency and amount authorized
- 57a – Account with bank
- 58a – Beneficiary bank (confirming)
- 72 – Sender to receiver information
7. FAQs
- Q: Is MT740 only for confirmed LCs?
A: Primarily, yes, but can support nominated LCs as well. - Q: How fast is reimbursement?
A: Typically 1–5 banking days depending on bank and corridor. - Q: Are partial amounts allowed?
A: Yes, MT740 can authorize partial drawdowns. - Q: What happens if the issuing bank defaults?
A: The reimbursement authority is binding; the reimbursing bank ensures payment according to MT740.
Using MT740 for LC advice ensures confirming banks receive secure, traceable, and compliant reimbursement, providing confidence in international trade operations.
Letter of Credit Advice via MT740 – Reimbursement-Backed
NNRV Trade Partners structures MT740 messages to provide confirming banks with a legally backed reimbursement authority from the issuing bank. This ensures secure and prompt payout upon compliant document presentation. MT740 follows UCP 600 standards and integrates seamlessly with MT700/710 confirmed LCs.
What Is a Letter of Credit Advice via MT740?
An MT740 is a SWIFT message issued by the LC issuing bank to authorize a reimbursing bank to honor claims from a confirming or nominated bank. It guarantees repayment upon compliant presentation and reduces interbank settlement risk.
Key Benefits
- Reimbursement Guarantee – Ensures confirming bank receives funds promptly.
- Used with Confirmed or Nominated LCs – Reinforces interbank trust.
- Reduces Settlement Risk – Pre-authorized funds.
- Full SWIFT Audit Trail – Traceable under UCP 600.
- Ideal for Complex Cross-Border or Multi-Bank LC Structures.
How It Works
- Issuing Bank issues LC (MT700).
- Confirming Bank adds confirmation (via MT710).
- Issuing Bank sends MT740 to Reimbursing Bank.
- Confirming Bank presents documents and requests reimbursement.
- Reimbursing Bank pays per MT740 authorization.
Documents Required
- Final LC (MT700/710) with confirmation & reimbursement clause
- Reimbursement agreement between issuing & reimbursing banks
- SWIFT-enabled credentials for all banks involved
- Seller’s documents: commercial invoice, B/L or AWB, inspection reports
- Bank compliance files: KYC/AML, sanctions screening as required
Top 40 Banks Supporting MT740 & SBLC Transactions
| Bank | Country | SWIFT/BIC |
|---|---|---|
| JPMorgan Chase | USA | CHASUS33 |
| HSBC London | UK | MIDLGB22 |
| Commerzbank | Germany | COBADEFF |
| Standard Chartered Dubai | UAE | SCBLAEAD |
| Citibank | USA | CITIUS33 |
| BNP Paribas | France | BNPAFRPP |
| Deutsche Bank | Germany | DEUTDEFF |
| Barclays | UK | BARCGB22 |
| UBS | Switzerland | UBSWCHZH80A |
| Crédit Agricole CIB | France | AGRIFRPP |
| Société Générale | France | SOGEFRPP |
| UniCredit | Italy | UNCRITMM |
| ING Bank N.V. | Netherlands | INGBNL2A |
| Banco Santander | Spain | BSCHESMM |
| Bank of America | USA | BOFAUS3N |
| Wells Fargo | USA | WFBIUS6S |
| BNY Mellon | USA | IRVTUS3N |
| HSBC Hong Kong | Hong Kong | HSBCHKHH |
| Standard Chartered Hong Kong | Hong Kong | SCBLHKHH |
| DBS Bank | Singapore | DBSSSGSG |
| OCBC Bank | Singapore | OCBCSGSG |
| UOB Bank | Singapore | UOVBSGSG |
| Royal Bank of Canada | Canada | ROYCAT2L |
| Toronto-Dominion Bank | Canada | TDOMCATTTOR |
| Scotiabank | Canada | NOSCCATT |
| Credit Suisse | Switzerland | CRESCHZZ80A |
| Intesa Sanpaolo | Italy | BCITITMM |
| Raiffeisen Bank International | Austria | RZBAATWW |
| SEB Group | Sweden | ESSESESS |
| Nordea Bank | Finland | NDEAFIHH |
| Danske Bank | Denmark | DABADKKK |
| First Abu Dhabi Bank | UAE | NBADAEAA |
| Mashreq Bank | UAE | BOMLAEAD |
| Bank of China | Hong Kong | BKCHHKHHXXX |
| China Construction Bank | Hong Kong | CCBQHKAX |
| HSBC Singapore | Singapore | HSBCSGSG |
| Citibank Hong Kong | Hong Kong | CITHHKHH |
| Standard Chartered Singapore | Singapore | SCBSGSG |
| UBI Banca | Italy | UBITITMM |
| Rabobank | Netherlands | RABONL2U |
Frequently Asked Questions (FAQ)
Q1: Is MT740 required for all confirmed LCs?
A: Only if the confirming bank needs reimbursement security from the issuing bank.
Q2: How fast is reimbursement?
A: Typically 1–4 banking days depending on bank agreements.
Q3: Can MT740 be partial?
A: Yes, partial drawdowns are possible if specified in the LC.
Q4: Which SWIFT messages are involved?
A: MT700/710 for LC issuance & confirmation, MT740 for reimbursement authorization, MT747 for amendments, MT199 for RWA/POF checks.
Q5: What documents are required?
A: LC, reimbursement agreement, commercial documents, KYC/AML compliance files.
Structuring Process at NNRV
- Review LC terms (MT700/710) & reimbursement clauses
- Coordinate with issuing & reimbursing banks
- Draft & validate MT740 message
- Monitor reimbursement claims & settlements
Conclusion: MT740-backed Letters of Credit provide confirming banks with full legal reimbursement security, minimize settlement risk, and are fully traceable under SWIFT and UCP 600 standards. Using top 40 global banks ensures fast, reliable, and compliant cross-border trade finance operations.