swift mt103/23
doefinance

Kuala Lumpur, Malaysia

#1 Jan 6, 2011
I notice that seller's in the financial and oil markets are offering MT103/23 as optional payment terms in their contracts in addition to the traditional and safe and secure DLC. The broker market has endorsed the MT103/23 as a "conditional payment" and some banking "experts" self styled, are saying there is no such thing, that MT103 is a transfer of funds period. ICC have nothing to say about it as the DLC is so well established in their procedures.
Can anyone with real knowledge and the ability to quote authorities like to comment ?
I don't want to hear from any ignoramuses or joker brokers.
Yohan

Cannes, France

#2 Jan 12, 2011
a standard MT103 message is simply a TT payment instruction, which is obviously not a guarantee, but simply an unconditional payment.

A so called "MT103/23" is (as far as I know) a format which would not be recognised by banks. The intention is for the buyer to arrange for the issuance of a SWIFT MT103 message with field 23 claused as "CONDITIONAL" so that the payment is not released/actioned by the recipient bank until certain conditions have been fulfilled, such as say, presentation of documents, evidencing shipment of goods.

It must be understood that such messages are not governed by any ICC provisions, and the manual intervention required under the "CONDITIONAL" flag would affect the "straight through processing" (STP) function of the MT103 message. It is unlikely that the SWIFT/Payment department of a bank would wish to involve itself in an area for which it is not qualified, in determining the integrity of the underlying documents, and thereby lift the condition to pay the seller. Such messages have been the subject of scams whereby an unscrupulous seller will circumvent the usual secure instruments such as LCs or bank guarantees, and instead rely on the relative ease of receiving payment against a less stringent examination of underlying shipping documents
jason

Tianjin, China

#4 Jan 18, 2012
good info!
Yohan thanks!

“Account Manager, Trade Finance”

Since: Oct 12

Location hidden

#12 Oct 7, 2012
What Yohan says is absolutely correct. I had actually heard that the net result is usually that upon receipt the SWIFT/Payment department of the bank literally disregards the whole instrument altogether.
brock

Philadelphia, PA

#17 Feb 6, 2013
New swift offer NO Proof Of Funds
No BCL No Proof Of Credit Line
NO ICBPO IPO Needed with this new offer the buyside
Is fully open I am direct to sender
For more info please e-mail me
[email protected]

Since: Jan 11

Location hidden

#18 Feb 6, 2013
Dear All Colleagues.
I think the swift MT103-23 is accepted as secured method , we are looking to be mutual business with all colleagues either in banking instruments , finance and investment
Dr. Ali Allaraj,CPA.
President
AIG.
[email protected]
skype;fgroup2002
ALIDOU

Accra, Ghana

#22 Mar 12, 2013
need mt103/ktt urgently-+

Since: Jan 11

Location hidden

#23 Mar 13, 2013
Dear Colleagues.
what Mr. Yohan wrote about MT103-23 , it is correct and accepted .
brock

Philadelphia, PA

#25 May 10, 2013
i have new swift offer i am direct to rep i need real clients for this please

DESCRIPTION OF THE INSTRUMENT(S):
Instrument: MT103 via SWIFT.
Issuing banks: BARCLAYS BANK PLC or HSBC BANK PLC, LONDON, UK.
Total nominal face value:Ä4,000,000,000.00 (four billion Euros).
Each Instrument nominal:Ä500,000,000.00 (five hundred million Euros).
Total Profits Receiving: 18%+ 6%(twenty four percents) from Instrumentís nominal.
Payment: Wire Transfer (TT).
Duration of payment. Within 3 (three) banking days upon Instrumentís SWIFT MT103 receive and authentication on interbank screen.

PROCEDURES:

1. The Receiver and the Sender execute, sign and initial this Agreement and Parties will lodged this Agreement in their respective banks.
2. The Sender sends the Invoice to the Receiver via e-mail.
3. The Receiver accepted Senderís Invoice and sends it copy to the Sender via e-mail and the Receiver shall cause of payment bank Officer to issue a BANK COMFORT LETTER (BCL, Annex 1) via interbank fax to Senderís payment bank and Soft Probe Letter ( Annex 2) within two (2) banking days since Invoice date.
4. The Sender shall instruct of issuing bank Officer to send a Financial Instrument (Annex 2) of first nominal (Ä500,000,000.00) via SWIFT MT103 to the Receiverís bank account within three (3) banking days upon BCL verification.
5. The Receiver shall cause of payment bank Officer to arrange a full payment of Profits Receiving by sum of Ä120,000,000.00 (Euro one hundred twenty million) as per Invoice within three (3) banking days upon receipt and authentication of Instrumentís SWIFT MT103 on interbank screen.
6. The Parties send copies of bank massages via e-mail during twenty four (24) hours since massages issuing date.
7. Sending of the subsequent Instrumentís nominals shall perform according to terms of points 2-6 of the present Procedure.
8. Should Receiverís payment bank default to pay as rate twenty four percents (24%) to Senderís banking coordinates as agreed in point 5 after three (3) days from SWIFT MT103 authentication on interbank screen, Sender will instruct of issuing bank Officer to put a claim on the MT103 via SWIFT thereby resulting to a cancellation and start litigation.

Since: Jan 11

Location hidden

#27 May 24, 2013
Dear Colleague.
Thank you so much for your kindly comments .
Sincerely
Dr.Ali Allaraj
President
AIG.
make money like the banks

Philadelphia, PA

#28 May 27, 2013
Do you want to make money the way the banks do?
Do you want to get paid off every account you
Or your team sign up?
Do you want to earn bonus checks like the bankers do?
If yes go to my website: http://www.uprivatebanking.com/business330
For more info and to sgin up free

Since: Jan 11

Location hidden

#30 May 28, 2013
Dear Colleague.
Thank you so much .
Dr.Ali Allaraj
President
AIG.
skype:fgroup20021
make money like the banks

Philadelphia, PA

#31 May 29, 2013
do you want to make money like the banks do?
do you want to get paid off every bank account you sgin up?
do you want to earn bonus checks like the top bankers to?
if yes please go to my website to sgin up free
http://www.uprivatebanking.com/business330

Since: Jan 11

Location hidden

#32 Jun 5, 2013
Dear Colleague.
Thank you so much for your invitation to visit your website.
Dr.Ali Allaraj
START YOUR OWN BANK

Philadelphia, PA

#34 Jul 5, 2013
understand from our friends at Nexor One that you wanted some information on the New Zealand Financial Services Company set up:

1. Formation of the Finance Company as a Limited company, Look Through Company or Limited Partnership based on consultation and assessment of your needs. Includes 3 sets of certified documents for account opening purposes.
2. Local Registered agent service
3. Dispute Resolution Scheme Membership initiation (required if providing retail financial services)
4. Financial Services Provider Registration with the NZ government's Financial Services Provider Registry
5. Electronic Payment Platform Account providing one internet account covering 200 countries and 31 currencies ($12 SWIFT and $3 ACH payments).
6. SWIFT BIC1 registration
7. Mastercard pre-paid debit card program with the first 10 un-activated Mastercards included

Since: Nov 13

London, UK

#42 Nov 5, 2013
I need SWIFT MT 103 fund transfer to be displayed and to remain in our bank's system/ grey screen in favor of our account for one year!

The funds should show as a account balance in our account (No need to be an available balance)!

The sending bank needs to be one of top 20 banks in the world!

Please forward your terms, we can negotiate!
[email protected]
0044 772 155 0 255

*Please do not contact me if you are asking me to pay to any amount upfront.

Thank you
JORDAN BROWN

Miami, FL

#48 Feb 28, 2014
I AM A PROVIDER OF MT 103 , 779 and 110, BG , IF YOU INTERESTED YOU CAN GET BACK TO ME, jordanbrown531@yahoo SERIOUS CLIENT ONLY.

Since: Jan 11

Location hidden

#56 Aug 22, 2014
make money like the banks wrote:
do you want to make money like the banks do?
do you want to get paid off every bank account you sgin up?
do you want to earn bonus checks like the top bankers to?
if yes please go to my website to sgin up free
http://www.uprivatebanking.com/business330
thanks lot, send me more details

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