MT760 (Guarantee)

MT760 is one of the SWIFT (Society for Worldwide Interbank Financial Telecommunication) standard message formats, officially known as 'Guarantee'. It is primarily used for the issuance, amendment, cancellation, or notification of various types of guarantees between banks (such as performance guarantees, advance payment guarantees, bid bonds, etc.). In foreign trade, when an importer or exporter requires a bank to provide a payment guarantee, the bank sends the formal guarantee text to the counterparty bank via an MT760 message. Use cases include: export of large equipment, international engineering contracting, bulk commodity transactions, and other situations requiring bank credit endorsement. Notes: MT760 itself is not a guarantee but a message conveying guarantee information; it must be distinguished from MT760 Cover (guarantee notification); the effectiveness of a guarantee is usually subject to confirmation by the counterparty bank; different banks may have different format requirements for MT760. Compared with MT799 (free-format message), MT760 has strict standard fields and content cannot be added arbitrarily; unlike MT700 (letter of credit), MT760 is used for guarantees rather than documentary letters of credit, and payment conditions are based on a statement of default rather than documents.