tsmt.008 — Forward Baseline Submission
Transmits to SWIFT's TSU (Trade Services Utility) the initial baseline of a foreign trade transaction under Bank Payment Obligation (BPO). The TSU then compares datasets submitted by buyer and seller to generate an automatic match — digital alternative to UCP 600 paper LCs.
Purpose: submit a BPO baseline
The Bank Payment Obligation (BPO) is an irrevocable payment promise between two banks, triggered by an electronic match of commercial datasets (PO, BL, invoice). To start, one of the two banks (typically the buyer bank) submits a baseline with tsmt.008: buyer/seller identity, bank BICs, amount, payment terms. The opposite bank submits its own baseline via tsmt.009; the TSU matches the two to generate the BPO contract.
XML structure
Wrapped in <FwdBaselnSubmissn>. Key components: SubmitrTxRef, Submitr, Baseln with Buyer/Seller/BPO sub-elements.
| Element | Role |
|---|---|
SubmitrTxRef | Transaction reference on submitter bank side. |
Baseln/SubmissnTp | NEW (new baseline) or AMND (amendment). |
Baseln/Ctgy | BPO (Bank Payment Obligation) or GUAR (guarantee). |
Buyr / Sellr | Commercial identities with LEI (Legal Entity Identifier). |
BuyrBk / SellrBk | BICs of participating banks. |
PrchsOrdrRef | Purchase Order reference matched by TSU. |
BllOfLadg / Cmrcl | Datasets to match (Bill of Lading, Commercial Invoice). |
BPO/Amt | BPO amount and currency. |
BPO/PmtTerm | Terms: on presentation (PRES), deferred (DEFR). |
Example: BPO baseline
BNP Paribas submits baseline for USD 500k BPO between ACME Import (FR) and Global Trading (US) via Citi NYC:
<?xml version="1.0" encoding="UTF-8"?>
<Document xmlns="urn:iso:std:iso:20022:tech:xsd:tsmt.008.001.04">
<FwdBaselnSubmissn>
<SubmitrTxRef>BNPP-BPO-2026-887</SubmitrTxRef>
<Submitr>
<Id>
<BIC>BNPAFRPPXXX</BIC>
</Id>
</Submitr>
<Baseln>
<SubmissnTp>NEW</SubmissnTp>
<Ctgy>BPO</Ctgy>
<BuyrBkCstmrTxRef>ACME-IMP-2026-77</BuyrBkCstmrTxRef>
<SellrBkCstmrTxRef>GLBL-EXP-2026-88</SellrBkCstmrTxRef>
<Buyr>
<Nm>ACME IMPORT SARL</Nm>
<Id><LEI>969500ACMEFRENCH4567</LEI></Id>
</Buyr>
<Sellr>
<Nm>GLOBAL TRADING INC</Nm>
<Id><LEI>5493GLOBALUSCORP123</LEI></Id>
</Sellr>
<BuyrBk>
<Id><BIC>BNPAFRPPXXX</BIC></Id>
</BuyrBk>
<SellrBk>
<Id><BIC>CITIUS33XXX</BIC></Id>
</SellrBk>
<PrchsOrdrRef>PO-ACME-2026-887</PrchsOrdrRef>
<BllOfLadg>
<DataSetMtch>FULL</DataSetMtch>
</BllOfLadg>
<Cmrcl>
<DataSetMtch>FULL</DataSetMtch>
</Cmrcl>
<BPO>
<Oblgr><Id><BIC>BNPAFRPPXXX</BIC></Id></Oblgr>
<Rcpt><Id><BIC>CITIUS33XXX</BIC></Id></Rcpt>
<Amt Ccy="USD">500000.00</Amt>
<PmtTerm>
<CdtEvt>PRES</CdtEvt>
<ExctnDtPrd>
<FrDt>2026-08-01</FrDt>
<ToDt>2026-09-30</ToDt>
</ExctnDtPrd>
</PmtTerm>
</BPO>
</Baseln>
</FwdBaselnSubmissn>
</Document>Common pitfalls
- LEI missing: since MIFID II and Basel IV, LEI (ISO 17442) is mandatory on corporate entities for BPO. Without LEI, TSU rejects.
- tsmt.008 without counterparty response: if seller doesn't submit tsmt.009 within 60 days, baseline expires automatically.
- Non-standardized datasets: BL and Commercial Invoice datasets must follow strict SWIFT TSU format — scanned paper BL PDF is not accepted.
- Confusion with UCP 600: BPO is strictly electronic and bank-only. UCP 600 stays for traditional paper documentary LCs.
Related messages (full BPO workflow)
- tsmt.008 — Forward Baseline Submission (this page).
- tsmt.009 — Baseline Match Report (TSU notifies the match).
- tsmt.010 — Baseline Re-Submission (in case of mismatch).
- tsmt.027 — Forward Status Notification.
- tsmt.044 — Pre-Notification of Removal.
- pacs.008 — FI to FI Customer Credit Transfer (BPO execution on presentation).