SWIFT issues details of its Category 7 message updates for 2018 and 2019


The upgrade to the category 7 messages will see 9 new messages - 2 relating to documentary credits (MT708 extension to the MT707 and MT744 notice of non-conforming reimbursement claim), 6 relating to guarantees and standby letters of credit (MT761 issue of a demand guarantee or standby credit which will be an extension of a new highly structured MT760, MT765 demand under a guarantee or standby, MT775 amendment to a guarantee or standby, MT785 guarantee or standby non-extension notification, MT786 demand refusal under a guarantee or standby, MT787 amendment response to a guarantee or standby), and 1 relating to an ancillary trade structured message (MT759). The planned implementation date for the MT708, MT744 and MT759 is November 2018 and the guarantee/standby messages November 2019.

See the following link for more details SWIFT Standards factsheet Category 7 upgrade (2018&2019) .pdf 

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