Give me information about Bank Guarantee MT 760.
You want information about Bank Guarantee MT 760 so here is its information:
Nature of SWIFT A SWIFT MT 760 is a bank-responsible guarantee issued by the sender bank, upon instructions of its account holder, in favour of a particular transaction or counter-party. Since banks never put their own money at risk, the clients funds are “blocked” by the bank, and held by the bank as security (collateral) for the issuance of the SWIFT. The SWIFT MT 760, therefore, is more than just an inter-bank message – it is a full-blown cash-backed negotiable instrument!
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