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Bank Guarantees

Bank Guarantees

Bank Guarantee Providers for LLC Inquot.

MT 760 belongs to a category of SWIFT Message types for guaranteeing letters of credit. SWIFT stands for Society for Worldwide Interbank Financial Telecommunications. Essentially, it is used to securely transfer information and instructions through a system of codes.

It works because SWIFT allocates each organization a specific code that is called the Bank Identifier Code (BIC)/ SWIFT Code.

If your business works with Bank Guarantees, Documentary Credits or Letters of Credit (LCs), the term ‘MT 760’ may have been used.

What happened before Swift? Before SWIFT was used to guarantee Letters of Credit and send information, a system called Telex was used. This was unfortunately hindered by low speeds, multiple security concerns and also no coding system – Transactions had to be described by the senders which were then interpreted by the receiver.

Why is MT 760 used in trade?

MT 760 can be used either by the party issuing a beneficiary on a guarantee or LOC, or by the party issuing a counter-undertaking to the beneficiary.

MT 760 is another type of SWIFT message sent from an issuing bank to an advising bank, with details of the SBLC or bank guarantee. Generally, the MT 799 is subject to the rules of the following:

What are the rules of the MT 760?

Often MT 760s reach their maximum size limit, so one or more can be used to extend the size. Additional MT 760s require MT 761s, and up to eight can be sent on top of the original MT 760 to provide the relevant information on the SBLC or Guarantee.

It’s important to ensure that duplicate content is not added to supplementary MT 761s (e.g. the Undertaking Amount), and that the information does not conflict with the MT 760.

Sequence C (Optional Information) can only be used when Sequence B is for a counter-undertaking for a Guarantee or Letter of Credit.

MT 760 Criteria

Unlike the MT 799, the 760 requires much more information regarding the transaction. Information such as:

Potential Issues/ Advancements for SWIFT

In late 2017, SWIFT worked on a proof-of-concept with six major banks which was aiming to discover whether Blockchain technology can help them reconcile their NOSTRO accounts in real time.

A NOSTRO account is a bank account that a UK Bank has with a foreign Bank, and it usually is in the currency of that country. The way in which Blockchain constantly updates the logbook owned by every member of the chain provides transparency which SWIFT may look to utilize to increase efficiency in the messaging process.

This is an issue SWIFT has. As many of their clients have astronomical transaction volumes, they are difficult to keep up with. Although their capability is far better than Telex, the need for automation in the creation and processing of messages is no secret.


UNIBANQUE BIC: UNIQFRP1 11.5%.

33,Avenue Du Maine 75015 Paris,France.

AGEBANQUE SA BIC: AGEQGB22 11.5%.

33 Margaret St,Fitzrovia,London W1W 8TF,UK.

AGEBANQUE BIC: AGEDFRP1 11.5%.

5-7 Rue De Milan 75009,Paris,France.

BANQUE AGRICOLE SA BIC: LAAGGB22 11.5%.

160 Kempt House City Road,London EC1V2NX,UK.

BANQUE ROBECO EUROPE N.V. BIC: LARPGB22 11.5%.

27 Old Gloucester Street,London,WC1N 3AX,UK.

GARANTI CREDIT BAINC BIC: GACBGB22 11.5%.

Unit 55,Listerhills Science Park,Bradford,West Yorkshire,BD7 1HR,UK.

BANQUE ESPANA SA BIC: ESNNGB22 12%.

Kemp House 160 City Road London,EC1V2NX,UK.

BANQUE DE PARIS: 12%.

Unit 55,Listerhills Science Park,Bradford,West Yorkshire,BD7 1HR,UK.

INGHAUS&COUTTS INVESTMENT BANK BIC: IGCIKMK1 10.3%.

Posthuset, Biskop Gunnerus Gate 14A,0185 Oslo - Norway.

Standard Commerce Bank BIC: STDMDMDM 10%.

Winter Bank AG BIC: WISMATWW 8.5%.

AG BANK BIC: AZEGAZ22 10.5%.

Mugan Bank BIC: MUGAAZ22 11%.

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