What is meaning Payment by MT 103-23 shipment by shipment?

Answer 1

MT-103 FORMAT FIELD23

This is an extract from the official SWIFT User Handbook. The field specifications for Field 23 (23B: Bank Operation Code / 23E: Instruction Code) are shown hereunder:

Field 23B: Bank Operation Code

FORMAT

Option B 4!c (Type)

PRESENCE

Mandatory

DEFINITION

This field identifies the type of operation.

CODES

One of the following codes must be used (Error code(s): T36):

CRED This message contains a credit transfer where there is no SWIFT Service Level involved.

CRTS This message contains a credit transfer for test purposes.

SPAY This message contains a credit transfer to be processed according to the SWIFTPay Service Level.

SPRI This message contains a credit transfer to be processed according to the Priority Service Level.

SSTD This message contains a credit transfer to be processed according to the Standard Service Level.

USAGE RULES

The code CRTS should not be used on the FIN network.

EXAMPLE

:23B:SPAY

Field 23E: Instruction Code

FORMAT

Option E 4!c[/30x] (Instruction)(Additional Information)

PRESENCE

Conditional (see rule C3)

DEFINITION

This field specifies an instruction.

CODES

Instruction must contain one of the following codes (Error code(s): T47):

SDVA Payment must be executed with same day value to the beneficiary.

INTC The payment is an intra-company payment, that is, a payment between two companies belonging to the same group.

REPA Payment has a related e-Payments reference.

CORT Payment is made in settlement of a trade, for example, foreign exchange deal, securities transaction.

HOLD Beneficiary customer/claimant will call; pay upon identification.

CHQB Pay beneficiary customer only by cheque. The optional account number line in field 59 must not be used.

PHOB Please advise/contact beneficiary/claimant by phone.

TELB Please advise/contact beneficiary/claimant by the most efficient means of telecommunication.

PHON Please advise account with institution by phone.

TELE Please advise account with institution by the most efficient means of telecommunication.

PHOI Please advise the intermediary institution by phone.

TELI Please advise the intermediary institution by the most efficient means of telecommunication.

NETWORK VALIDATED RULES

Additional Information is only allowed when Instruction Code consists of one of the following codes: PHON, PHOB, PHOI, TELE, TELB, TELI, HOLD or REPA (Error code(s): D97).

If this field is repeated, the codes must appear in the following order (Error code(s): D98):

SDVA

INTC

REPA

CORT

HOLD

CHQB

PHOB

TELB

PHON

TELE

PHOI

TELI

When this field is used more than once, the following combinations are not allowed (Error code(s): D67):

SDVA with HOLD

SDVA with CHQB

INTC with HOLD

INTC with CHQB

REPA with HOLD

REPA with CHQB

REPA with CORT

CORT with HOLD

CORT with CHQB

HOLD with CHQB

PHOB with TELB

PHON with TELE

PHOI with TELI

If this field is repeated, the same code word must not be present more than once (Error code(s): E46).

USAGE RULES

This field may be repeated to give several coded instructions to one or more parties.

Code REPA indicates that the payment is the result of an initiation performed via an e-payments product between the customers. This code is intended for the beneficiary's bank who should act according to the specifications of the e-payments product.

EXAMPLE

:23E:CHQB

:23E:TELI/3226553478