MT700 fields an issuing desk actually checks
31D is expiry, not the whole credit
In a SWIFT MT700, field 31D is the date and place of expiry. Presentation has to be made at that place on or before that date, read with UCP 600 Article 6 if the credit incorporates UCP 600. Banks sometimes treat 31D as “the LC date” in conversation. It is the expiry. The date of issue is a different field. Mixing them produces a wrong maturity and a wrong presentation deadline.
Amount, availability, and shipment
Field 32B states the currency and amount. Field 39A is the percentage tolerance, which is where an “about” discussion under UCP 600 Article 30 has to show up if the credit intends a tolerance. Field 41a states where the credit is available and by what means: sight, deferred payment, acceptance, or negotiation. Fields 42C and 42a, where used, describe the drafts. Fields 43P and 43T say whether partial shipments and transhipment are allowed. Fields 44A through 44F carry the places of receipt, the ports or airports, and the latest shipment date. Those places have to match the transport document you will examine under Article 20 or the article that fits the mode.
Goods and documents
Field 45A is the description of goods and services. Article 14(e) and Article 18 will test the invoice against that description. Field 46A lists the documents required. If a document is not in 46A or elsewhere in the credit, it is not a stipulated document. Field 47A carries additional conditions. A condition in 47A that does not call for a document may be a non-documentary condition that Article 14 tells the bank to disregard. Field 48 is the period for presentation. If 48 is empty, Article 14(c)’s 21 calendar days after shipment can apply, still subject to expiry in 31D. Field 49 states whether confirmation is requested.
Charges, confirmation, and instructions
Later fields cover charges, reimbursement instructions, and the advice-through bank. They matter for booking. They are not a second goods description. A discrepancy in the bill of lading is not cured because field 71B allocated charges in a particular way. Keep the document check on 45A, 46A, 47A, 48 and the shipment fields. Keep the accounting on the charge and reimbursement fields.
Electronic credits
If the credit is also subject to eUCP, field 31D remains the date and place of expiry. It does not become the electronic address. eUCP version 2.1 requires the credit to indicate a place for presentation of electronic records, and it defines that place as an electronic address. Putting a city name in 31D does not satisfy that requirement. Read the eUCP guide next to this one before you issue a credit that allows electronic records.
Source
SWIFT MT700 field 31D is the date and place of expiry. The other field names on this page are the public MT700 documentary fields. Examination rules, where the credit incorporates them, are UCP 600. iccwbo.org. Open the cited source.
Frequently asked questions
What is field 31D?
The date and place of expiry of the credit. It is not, by itself, the electronic address for an eUCP presentation.
Where do the documents go in the message?
Field 46A is the documents required. Field 45A is the description of goods. Field 47A is additional conditions. Field 48 is the period for presentation.
Does a completed MT700 mean the goods are permitted?
No. The message is the credit. Permission under the Import Policy Order and reporting on the IMP form are separate.