Swift MT707 Generated Incorrectly For Advising Bank Upon Amendment Of Export Advice LC
(Doc ID 2878517.1)
Last updated on JULY 04, 2022
Applies to:Oracle FLEXCUBE Universal Banking - Version 12.3 to 22.214.171.124.0
Information in this document applies to any platform.
On : 12.3 version, Production Support-SET
Swift MT707 generated incorrectly for Advising Bank upon amendment of Export Advice LC
When an Export Advice LC with Advising Bank_ABK and Issuing Bank (ISB) parties is amended, Advice ‘LC_AMND_INSTR’ is generated for Advising Bank party and SWIFT MT707 message is sent out to Advising Bank. This is incorrect behavior. During such LC amendment, the expected behavior is that SWIFT MT707 should not be generated instead the advice should be sent out to Beneficiary_BEN via MAIL.
(Note : bank is not Advising Bank, but acting as a third party advising bank)
Expected as this advice should be generated for party type_BEN and with medium 'MAIL'. SWIFT MT707 should not be generated in this case.
1. Create an Export Advice LC via LCDTRONL, add parties Advising Bank_ABK and Issuing Bank_ISB, save and authorize.
2. Create a new Amendment via LCDAMEND, extend the Expiry Date and Closure Date, visit 'Advices' tab - 'LC_AMND_INSTR' advice is defaulted for party type Advising Bank and medium 'SWIFT'
3. Save and Authorize the amendment and visit 'All Messages' - MT707 generated for Advising Bank Advising Bank
This is incorrect behavior, this advice should be generated for party type Beneficiary_BEN and with medium 'MAIL'. SWIFT MT707 should not be generated in this case.
To view full details, sign in with your My Oracle Support account.
Don't have a My Oracle Support account? Click to get started!
In this Document