MT-TAG-40A
SWIFT field 40A, form of documentary credit.
Definition
Field 40A is the first mandatory field of the MT700. It carries one of the standardised codes: IRREVOCABLE, IRREVOCABLE TRANSFERABLE, IRREVOCABLE STANDBY or IRREVOC TRANS STANDBY. Under UCP 600 every credit is deemed irrevocable, which is why no REVOCABLE code exists.
Origin
Defined in the SWIFT User Handbook, Category 7 — MT700 message specification (ISO 15022 / MT-FIN format), maintained by Swift.
Example in context
:40A:IRREVOCABLE TRANSFERABLE