The Standby Letter of Credit – Definition, Issuance and Notification

The Standby Letter of Credit – Definition, Issuance and Notification

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Another prominent payment technique used in international trade is the Standby Letter of Credit. What is a Standby Letter of Credit (SBLC)? How is it different from a Letter of Credit? How do issuance...
Usage of MT400 SWIFT Message to announce the proceeds

Usage of MT400 SWIFT Message to announce the proceeds

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The MT400 SWIFT Message is an advice of payment sent by the collecting bank to the remitting bank. A lot of things happen before the funds are collected and the MT400 message is sent....
SWIFT MT400 Usage for the settlement of proceeds

SWIFT MT400 Usage for the settlement of proceeds

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The SWIFT MT400 is an advice of payment sent by the collecting bank to the remitting bank. A lot of things happen before the funds are collected and the SWIFT MT400 message is sent....
Collecting Bank and Remitting Bank in SWIFT Category 4 Messages

Collecting Bank and Remitting Bank in SWIFT Category 4 Messages

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SWIFT category 4 messages (part 1) are about payment collections. In the SWIFT standards documentation, we read that these messages are exchanged between the collecting bank and the remitting bank. And unless you know what...
SWIFT MT101 usage funds repatriation

SWIFT MT101 Usage for funds repatriation

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The SWIFT MT101 message can be used for various purposes. We saw in previous articles how the SWIFT MT101 is used: to pay multiple transactions from a single account to pay multiple transactions from...