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May 18, 2013, 6:33am

Sapphire Partners Financial Message Board :: General :: General Board :: MT199

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Topic: MT199 (Read 3,632 times)

whistler
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MT199
« Thread Started on Sept 17, 2010, 11:37am »

Can a MT199 with the full standard verbiage of a bank guarantee or sblc carry value on it's own right and serve as grounds for an MT 760, even if the advising bank will not send the 760 itself.

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niseag
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Grwndwal chan 'r Ddraig

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Re: MT199
« Reply #1 on Sept 18, 2010, 3:07am »

read up on
http://www.ubs.com/1/ShowMedia/bank_for_....FT_Inquiry.pdf

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`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.

privateinvestors
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Re: MT199
« Reply #2 on Sept 18, 2010, 4:54pm »

In a simple word: No.

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niseag
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Grwndwal chan 'r Ddraig

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Re: MT199
« Reply #3 on Sept 18, 2010, 10:43pm »

in a preset syndicate you can set things up so an MT199 can trigger it, but not through the legal obligation under the SWIFT MT199 only under the Syndication Agreement which stipulates such SWIFT, thats however done rarely as supervision of the state discourages it and legal compliance will have a fit; so the answer is : NO

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`Twas brillig, and the slithy toves
Did gyre and gimble in the wabe:
All mimsy were the borogoves,
And the mome raths outgrabe.

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