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who can explain me well about MT760 AND MT799 [Copy link] 中文

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Post time 2010-3-31 15:09:36 |Display all floors
there are many terms while dealing with customers for businesses,mt 760 and mt799 which are the required by one of our customers,I am so familiar with that .even i tried to find any info.by internet. sb can explain well?
normally,which bank in China can support that businesses?

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Rank: 8Rank: 8

Post time 2010-3-31 15:21:39 |Display all floors

Maybe this can help

MT760 is a format of a Bank Guarantee. This is a written guarantee honouring your commitments to a third party in certain circumstances, in the event that you are unable to meet them. Clearly this is not a payment instrument. In the event of default, the beneficiary can liquidate the said guarantee. The Beneficiary would notify his demand via free format (SWIFT) MT 799 or MT 999. Upon receipt of the written demand, the bank would remit proceeds via SWIFT format MT 103 (replacement of MT 100).





The disadvantage of using Bank Guarantee is firstly, you are required to secure some deposit against the issuance of the Guarantee. In
for example, you are required to place 100% deposit.





The cost of issuing the Bank Guarantee is quit substantial, because normally the expiry date of the Guarantee is within a year.





The advantage of MT760 is it can be subjected to UCP latest version which is applicable worldwide exactly like LCs.

Edited to add the link: h tt p://r esou r ces.alibaba.c om/to pic/2 7 344 9/W  hat_is_ MT7 60 _and  _MT 103_. htm

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chairman has been deleted
Post time 2010-3-31 15:34:47 |Display all floors

OCTO DUH

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Post time 2010-3-31 15:52:54 |Display all floors

Reply #3 chairman's post

how about adult education course in China......

many rules in international financial games to GREASE the wheel of commerce.....
wonder, whether the GREAT LADY is accurate.....
we just read anyway...

ha ha ha


Green DRagon
Game Master

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Post time 2010-3-31 15:58:28 |Display all floors

Sometimes reading can give you a head ache...like OCTO DUH

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Post time 2010-3-31 16:00:51 |Display all floors

Reply #5 chairman's post

besides is there a need to know such detail information.....


ha ha ha

Green DRagon
Game Master

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chairman has been deleted
Post time 2010-3-31 16:03:12 |Display all floors

No...I do not think so...but they probably do know..

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