Category 7: Documentary credits, guarantees and standby letters of credit
MT785 Guarantee / Standby Letter of Credit Non Extension Notification
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The MT785 tells the beneficiary of a guarantee or standby letter of credit, through the advising banks or directly when the beneficiary is a bank, that the undertaking will not be extended beyond its current expiry date. The issuer, or the issuer of a counter-guarantee, sends it. It was introduced in the November 2021 guarantee release.
- Message type
- MT785
- Category
- 7
- Status
- In the current standard
- ISO 20022
- No direct equivalent
What MT785 is used for
Many guarantees and standbys extend automatically, for example by a year at a time, unless the issuer gives notice of non-extension within an agreed period before expiry. The MT785 is the structured form of that notice. It quotes the undertaking number, the issuer, the date of issue and the beneficiary, and can give a final expiry date.
When the guarantee was advised through one or two banks, the message names them so each can pass the notice on. A beneficiary that receives a non-extension notice may respond with a demand, sent in an MT765, before the guarantee expires.
- Sent by
- The issuer of the guarantee, standby or counter-guarantee
- Sent to
- The beneficiary bank or the advising bank
Fields
This is a catalogue entry: the field-by-field structure is not shown here because we publish structures only where we have checked them against public sources. Paste an MT785 into the parser to see each field decoded with its tag, name and value.
ISO 20022
No ISO 20022 equivalent in use on Swift. ISO 20022 defines tsrv.011 Undertaking Non Extension Notification for the same event, but guarantee messages between banks are still sent as MT.
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