Archive:Funds Remittance/SWIFT - Revision history

wikademia>Wikademia: moved Funds Remittance/SWIFT to Archive:Funds Remittance/SWIFT

2009-06-01T17:16:58Z

moved Funds Remittance/SWIFT to Archive:Funds Remittance/SWIFT

← Older revision	Revision as of 17:16, 1 June 2009
(No difference)

wikademia>Wikademia at 08:23, 15 April 2009

2009-04-15T08:23:22Z

← Older revision		Revision as of 08:23, 15 April 2009
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	{{ntnes}}		{{ntnes}}

	~~==SWIFT==~~
	SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating banks, primarily for the purpose of communicating payment information. When an issuing bank instructs an advising bank by an authenticated teletransmission to advise a documentary credit or an amendment to a credit, the teletransmission will be considered to be the operative instrument. This is called SWIFT.		SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating banks, primarily for the purpose of communicating payment information. When an issuing bank instructs an advising bank by an authenticated teletransmission to advise a documentary credit or an amendment to a credit, the teletransmission will be considered to be the operative instrument. This is called SWIFT.

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	*Sometimes, an issuing bank will send a brief telex/SWIFT message to the advising bank to let the bank know the "brief details" of the documentary credit and to advise that "full or complete" details will follow by mail. The issuing bank must send the actual documentary credit by mail without delay. The "pre-advice" is not the operative instrument. Once an issuing bank has issued a pre-advice, it must issue the operative instrument without delay unless the pre-advice indicates that the issuing bank may choose not to issue the credit. Should the latter happen, the "beneficiary" should exercise extreme caution before taking any action to begin production or otherwise act as if the credit were on its way.		*Sometimes, an issuing bank will send a brief telex/SWIFT message to the advising bank to let the bank know the "brief details" of the documentary credit and to advise that "full or complete" details will follow by mail. The issuing bank must send the actual documentary credit by mail without delay. The "pre-advice" is not the operative instrument. Once an issuing bank has issued a pre-advice, it must issue the operative instrument without delay unless the pre-advice indicates that the issuing bank may choose not to issue the credit. Should the latter happen, the "beneficiary" should exercise extreme caution before taking any action to begin production or otherwise act as if the credit were on its way.
	*If a bank uses an advising bank to have the documentary credit advised to the beneficiary, it must also use the services of the same bank for advising an amendment(s).		*If a bank uses an advising bank to have the documentary credit advised to the beneficiary, it must also use the services of the same bank for advising an amendment(s).



	<div style="float:right;">[[Funds Remittance/Credit Cards\|Prev]] \| [[Funds Remittance/Summary\|Next]]		<div style="float:right;">[[Funds Remittance/Credit Cards\|Prev]] \| [[Funds Remittance/Summary\|Next]]

	[[Category:International business]]		[[Category:International business]]

wikademia>Wikademia: Text replace - 'TF4.4' to 'ntnes'

2009-04-09T08:09:08Z

Text replace - 'TF4.4' to 'ntnes'

← Older revision		Revision as of 08:09, 9 April 2009
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	{{~~TF4.4~~}}		{{ntnes}}

	==SWIFT==		==SWIFT==

wikademia>Wikademia: Text replace - 'Category:International Business' to 'Category:International business'

2009-04-09T05:11:46Z

Text replace - 'Category:International Business' to 'Category:International business'

← Older revision		Revision as of 05:11, 9 April 2009
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	<div style="float:right;">[[Funds Remittance/Credit Cards\|Prev]] \| [[Funds Remittance/Summary\|Next]]		<div style="float:right;">[[Funds Remittance/Credit Cards\|Prev]] \| [[Funds Remittance/Summary\|Next]]

	[[Category:International ~~Business~~]]		[[Category:International business]]

wikademia>Wikademia: 3 revisions

2009-04-08T04:18:09Z

3 revisions

← Older revision	Revision as of 04:18, 8 April 2009
(No difference)

125.17.7.230: /* SWIFT */

2008-10-31T05:59:52Z

SWIFT

← Older revision		Revision as of 05:59, 31 October 2008
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	==SWIFT==		==SWIFT==
	SWIFT (Society for Worldwide ~~Interbrain~~ Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating banks, primarily for the purpose of communicating payment information. When an issuing bank instructs an advising bank by an authenticated teletransmission to advise a documentary credit or an amendment to a credit, the teletransmission will be considered to be the operative instrument. This is called SWIFT.		SWIFT (Society for Worldwide Interbank Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating banks, primarily for the purpose of communicating payment information. When an issuing bank instructs an advising bank by an authenticated teletransmission to advise a documentary credit or an amendment to a credit, the teletransmission will be considered to be the operative instrument. This is called SWIFT.

	*Most documentary credits are transmitted electronically either by telex or through the SWIFT interbank telecommunication system. When documentary credits are transmitted in this way the telecommunication itself becomes the actual documentary credit or “operative instrument.” Should the issuing bank send a mail confirmation, the advising bank is under no obligation to compare the two instruments to ensure that they are identical.		*Most documentary credits are transmitted electronically either by telex or through the SWIFT interbank telecommunication system. When documentary credits are transmitted in this way the telecommunication itself becomes the actual documentary credit or “operative instrument.” Should the issuing bank send a mail confirmation, the advising bank is under no obligation to compare the two instruments to ensure that they are identical.

24.11.195.94 at 14:09, 28 September 2007

2007-09-28T14:09:08Z

← Older revision		Revision as of 14:09, 28 September 2007
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	*If a bank uses an advising bank to have the documentary credit advised to the beneficiary, it must also use the services of the same bank for advising an amendment(s).		*If a bank uses an advising bank to have the documentary credit advised to the beneficiary, it must also use the services of the same bank for advising an amendment(s).



			<div style="float:right;">[[Funds Remittance/Credit Cards\|Prev]] \| [[Funds Remittance/Summary\|Next]]

	[[Category:International Business]]		[[Category:International Business]]

wikademia>MSUglobal: New page: {{TF4.4}} ==SWIFT== SWIFT (Society for Worldwide Interbrain Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating bank...

2007-09-25T19:41:13Z

New page: {{TF4.4}} ==SWIFT== SWIFT (Society for Worldwide Interbrain Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating bank...

New page

{{TF4.4}}

==SWIFT==
SWIFT (Society for Worldwide Interbrain Financial Telecommunication) is a computer-based standardized message writing system that connects worldwide participating banks, primarily for the purpose of communicating payment information. When an issuing bank instructs an advising bank by an authenticated teletransmission to advise a documentary credit or an amendment to a credit, the teletransmission will be considered to be the operative instrument. This is called SWIFT.

*Most documentary credits are transmitted electronically either by telex or through the SWIFT interbank telecommunication system. When documentary credits are transmitted in this way the telecommunication itself becomes the actual documentary credit or “operative instrument.” Should the issuing bank send a mail confirmation, the advising bank is under no obligation to compare the two instruments to ensure that they are identical.
*Sometimes, an issuing bank will send a brief telex/SWIFT message to the advising bank to let the bank know the "brief details" of the documentary credit and to advise that "full or complete" details will follow by mail. The issuing bank must send the actual documentary credit by mail without delay. The "pre-advice" is not the operative instrument. Once an issuing bank has issued a pre-advice, it must issue the operative instrument without delay unless the pre-advice indicates that the issuing bank may choose not to issue the credit. Should the latter happen, the "beneficiary" should exercise extreme caution before taking any action to begin production or otherwise act as if the credit were on its way.
*If a bank uses an advising bank to have the documentary credit advised to the beneficiary, it must also use the services of the same bank for advising an amendment(s).

[[Category:International Business]]