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MT700 is used to indicate the terms and conditions of a commercial documentary credit or a standby letter of credit which has been originated by the Sender (issuing bank). This message is sent by the issuing bank to the advising bank.
Field 51a: Applicant Bank is a field in MT 700 swift message type that is used to specify the bank of the applicant customer, if different from the issuing bank. This is an optional field. This field specifies the bank of the applicant customer, if different from the issuing bank.
MT 760 is a swift message type that is used by issuing banks when issuing a guarantee or a standby letter of credit. Issuing banks send terms and conditions of a guarantee or a standby letter of credit with a MT 760 Guarantee / Standby Letter of Credit swift message type.
MT700 and MT760 swift message types that banks use when issuing documentary credits and guarantees, respectively. Banks use MT700 when issuing a commercial letter of credit or a standby letter of credit. Banks use MT760 when issuing a demand guarantee or a standby letter of credit.
MT710 has the same structure and content as the original MT700 with some additional fields for first advising banks reference and issuing banks details.
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Often the MT700 is available in the banks LC system and the MT760 is available in the banks Guarantee system. Since a Standby LC it is in reality a guarantee; fees must be calculated as any other guarantee i.e. in the banks guarantee system which would not allow the use of a MT700.
MT700 is used to indicate the terms and conditions of a commercial documentary credit or a standby letter of credit which has been originated by the Sender (issuing bank). MT760 is sent between banks involved in the issuance of a demand guarantee or a standby letter of credit.
MT 700 is a special swift message type that is used by issuing banks when issuing a letter of credit. An issuing bank sends the terms and conditions of the documentary credit with a MT 700 Issue of a Documentary Credit swift message type. MT 700 message is sent by the issuing bank to the advising bank.
MT710 has the same structure and content as the original MT700 with some additional fields for first advising banks reference and issuing banks details.
MT 700 is a special swift message type that is used by issuing banks when issuing a letter of credit. An issuing bank sends the terms and conditions of the documentary credit with a MT 700 Issue of a Documentary Credit swift message type. MT 700 message is sent by the issuing bank to the advising bank.

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