SWIFT for Trade
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Intro to SWIFT
International trade spans the entire globe and the trade transaction involves multiple cycles of communication. Check out the role of SWIFT in communication
Functionality & structure of SWIFT
SWIFT provides secure transmission. Check out on the functionality and structure of SWIFT
Bank Identification Code
BIC is a unique address, which identifies precisely, the institutions involved in financial transactions.
Basic communication and MT
The Message Types in SWIFT, help banks achieve the standard of completeness and accuracy.
Listing of MT 4xx / 7xx
As we are interested in the Message Types associated with Trade Finance, we will look at the Message listing of 4 series and 7 series
Basics of a message and its fields
Common basics in understanding messages is dealt with in this video
Highlevel view of SWIFT for DC
We will follow the flow of an LC transaction to understand where the MT7xx are used