The common messages are allowed in the System to send the messages to the Contract Parties or to another freely selectable address.
The type of the message is to be selected by the user and send to the receiver of the message and if necessary the copies to the receiver of the message.
The following message types are used in the common messages.
- Answer - To provide answers for all the Message types of different message categories.
- Acknowledgment - This message type(MT768) is used to acknowledge the receipt of Guarantee/Standby L/C Issuance and/or Guarantee/Standby L/C Amendment.
- Structured Free Format Msg - This message type(MT759) is designed to be sent between banks to either request or provide information relating to a transaction including documentary credits, demand guarantees, standby letters of credit or any other form of undertaking.
- Advice of Maturity - This free format message is used to inform the receiver about the validity of the undertaking.
- Declaration of Indemnity - This Declaration of Indemnity message is only sent as letter or fax to the receiver.
- Advice of Auto-Extension - This is the Advice of Upcoming Auto-Extension message sent to the receiver.
- Stop Auto-Extension -This message type(MT785) is generated to advise the non-extension of the contract.
- Rejection of Amendment - This message type(MT787) message is the beneficiary's response to the Guarantee/Standby L/C's Amendment. Beneficiary's rejection/refusal of the Guarantee Amendment to be registered through Guarantee common message.
To send common messages for an existing Guarantee contract, GITFRE transaction is used.
When you have made your changes, click on the ( ) Save function to save all the the data entered in the transaction to the database.