SWIFT MT799

The MT-799 is a free format SWIFT message type in which a banking institution confirm‍s that funds are in place to cover a potential trade.

This can, on occasion, be used as an irrevocable undertaking, depending on the language used in the MT-799, but is not a promise to pay or any form of bank guarantee in its standard format.The function of the MT-799 is simply to assure the seller that the buyer does have the necessary funds to complete the trade.

Edit SWIFT MT199

A Swift Message Type 199 Is A Interbank Message Used Between Two Banks To Transmit The Value Of A Bond Or An Skr Or A Free Format Message Engaging 2 Banks Readyness To Move Forward With A Transaction. Usually A Private One. A Mt199 Swift Message Is Easily Explained As A “Chat” Message.