Thruth and lies about "conditional swift"

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guglielmo rinaldini

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Feb 23, 2006, 4:05:17 PM2/23/06

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DETAILS ABOUT CONDITIONAL SWIFT

I've purchased the following informations on website:
http://www.finanz-adressen.de/lex-off/S.html

SWIFT. Society for worldwide inter-bank financial telecommunications.
Telex
network to expedite payments between member banks; a laudable aim. An
acronym for The Society for Worldwide Interbank Financial
Telecommunication.
Founded in 1973, and based in Brussels, Belgium, it is a bank
cooperative.
With more than 2,850 members it operates through the world in more than
137
countries and maintains a state of the art security system for
financial
soundness.
Further details by telephone to their New York office at :
1-212-558-6920.

A conditional SWIFT is a funds transfer method which uses SWIFT
protocols to
transfer funds conditionally between banks, subject to the performance
of a
specified party.

ANY EXAMPLES OF CONDITIONAL SWIFT

SWIFT MT 103 FIELD 72 (OR MT 103/72)
Generally the condition is "payment will be free and available to the
seller
after 72 hours".

SWIFT MT 543 DVP (Delivering Versus Payment)
Generally the condition is "payment will be free and
available to the seller to receipt.

SWIFT MT 799 (Free Format Message)
Generally the condition is in the text as "payment will
be free and available to the seller after screening, validation and
authentication of the bank guarantee".