SWIFT MT799 Pre-Advice Template

Bank-to-Bank Communication for BG Monetization Verification

🔐 SWIFT AUTHENTICATED MESSAGE

Understanding MT799 in BG Monetization

What is MT799?

MT799 is a SWIFT message type for authenticated free-format messages between banks. In the BG monetization process, it serves as a pre-advice to verify transaction details and confirm readiness before the actual MT760 (Bank Guarantee) is issued.

Purpose in BG Monetization:

1
MT799 Sent

Pre-advice inquiry

→
2
MT799 Response

Confirmation received

→
3
MT760 Issued

BG transmitted

Template 1: Initial MT799 Inquiry

Use this template for the initial contact with the receiving bank to verify their readiness to receive and monetize the proposed Bank Guarantee.

Copy Template
MT799 FREE FORMAT MESSAGE
:20: [YOUR REFERENCE NUMBER]
:21: [RELATED REFERENCE IF ANY]
:79:
TO: [RECEIVING BANK NAME]
ATTN: TRADE FINANCE / SOVEREIGN WEALTH DEPARTMENT
SWIFT: [RECEIVING BANK SWIFT CODE]

RE: PRE-ADVICE FOR BANK GUARANTEE MONETIZATION

DEAR SIRS,

WE REFER TO THE PROPOSED ISSUANCE OF A BANK GUARANTEE (BG) FOR
MONETIZATION THROUGH YOUR INSTITUTION'S SOVEREIGN FUND FACILITY.

PROPOSED TRANSACTION DETAILS:
- APPLICANT: [CLIENT NAME]
- BG AMOUNT: USD [AMOUNT IN FIGURES]
- TENURE: [X] YEAR(S) AND [X] DAY(S)
- FORMAT: MT760 SUBJECT TO URDG 758
- PURPOSE: PROJECT FINANCING / MONETIZATION
- FACILITATOR: ECO NOVA (REF: [ECO NOVA REF])

PLEASE CONFIRM:
1. YOUR READINESS TO RECEIVE ABOVE MENTIONED BG
2. CONFIRMATION OF MONETIZATION CAPABILITY
3. ANY SPECIFIC REQUIREMENTS FOR BG TEXT
4. YOUR RECEIVING ACCOUNT DETAILS

UPON YOUR CONFIRMATION, WE SHALL PROCEED WITH ISSUANCE.

PLEASE AUTHENTICATE YOUR RESPONSE VIA RETURN MT799.

BEST REGARDS,
[YOUR BANK NAME]
[OFFICER NAME AND TITLE]
[CONTACT DETAILS]

Template 2: Detailed Verification MT799

Use this template when more detailed verification is required or when responding to specific queries from the receiving bank.

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MT799 FREE FORMAT MESSAGE - DETAILED
:20: [YOUR REFERENCE NUMBER]
:21: [THEIR REFERENCE NUMBER]
:79:
FURTHER TO YOUR MT799 DATED [DATE]

WE PROVIDE THE FOLLOWING ADDITIONAL INFORMATION:

CLIENT DETAILS:
- FULL NAME: [COMPLETE LEGAL NAME]
- REGISTRATION: [REGISTRATION NUMBER]
- ADDRESS: [REGISTERED ADDRESS]
- PROJECT: [PROJECT NAME AND LOCATION]

BG SPECIFICATIONS:
- TYPE: DEMAND BANK GUARANTEE / STANDBY LC
- TRANSFERABLE: NO
- DIVISIBLE: NO
- CONFIRMATION: NOT REQUIRED
- GOVERNING LAW: [APPLICABLE LAW]

VERIFICATION CODES:
- ECO NOVA REF: [REFERENCE]
- GULF MARKETING REF: [REFERENCE]

WE CONFIRM:
1. CLIENT HAS BEEN SUBJECT TO OUR KYC/AML PROCEDURES
2. PROJECT DOCUMENTATION HAS BEEN REVIEWED
3. WE ARE PREPARED TO ISSUE UPON YOUR CONFIRMATION

PLEASE CONFIRM ACCEPTANCE OF ABOVE TERMS.

MT799 Field Guide

Standard Fields Explanation

Field Description Format
:20: Transaction Reference Number 16 alphanumeric characters max
:21: Related Reference 16 alphanumeric characters max
:79: Narrative (free format text) 35 lines x 50 characters

Important Considerations

  • Always use your bank's standard MT799 format and procedures
  • Ensure proper SWIFT authentication is applied
  • Keep copies of all MT799 communications
  • Wait for authenticated response before proceeding
  • Include all reference numbers for tracking

Expected MT799 Responses

Typical Positive Response Elements:

  • Confirmation of readiness to receive BG
  • Specific account details for MT760 field 58/59
  • Any special text requirements
  • Contact person for further coordination
  • Reference numbers for tracking
  • Timeline for fund disbursement after BG receipt

Items Requiring Clarification:

  • Requests for additional client documentation
  • Questions about BG text or format
  • Clarification on monetization process
  • Verification of facilitator credentials
  • Confirmation of regulatory compliance

Best Practices for MT799 Communication

DO:

  • Be clear and concise
  • Include all relevant references
  • Use standard banking terminology
  • Request specific confirmations
  • Maintain professional tone
  • Follow up if no response in 48 hours

DON'T:

  • Include sensitive client data
  • Make commitments beyond authority
  • Skip authentication procedures
  • Use non-standard formats
  • Rush without proper verification
  • Proceed without clear response

Download Templates

Download these templates in various formats for use in your banking system.

Note: These templates should be adapted to your bank's specific MT799 format and requirements. Always follow your institution's SWIFT messaging procedures.