4277Terms of payment identification

ElementBatch

Identification of the terms of payment between the parties to a transaction (generic term).

Element Details

Type ID
LengthMin 1 / Max 17
Codes
  • <>1
    Draft(s) must be drawn on the issuing bank.
  • <>4
    Draft(s) must be drawn on the applicant.
  • <>2
    Draft(s) must be drawn on the advising bank.
  • <>5
    Draft(s) must be drawn on any other drawee.
  • <>3
    Draft(s) must be drawn on the reimbursing bank.
  • <>6
    No drafts required.