4277 Terms of payment identification

Identification of the terms of payment between the parties to a transaction (generic term).

Type

String (AN)

Length

Min 1 / Max 17

Codes

Code	Description
1	Draft(s) drawn on issuing bank Draft(s) must be drawn on the issuing bank.
2	Draft(s) drawn on advising bank Draft(s) must be drawn on the advising bank.
3	Draft(s) drawn on reimbursing bank Draft(s) must be drawn on the reimbursing bank.
4	Draft(s) drawn on applicant Draft(s) must be drawn on the applicant.
5	Draft(s) drawn on any other drawee Draft(s) must be drawn on any other drawee.
6	No drafts No drafts required.