Definition
MT 798. It is a format SWIFT message which offers to corporations a single channel for exchanging standardized corporate-to-bank trade data. It helps corporations to streamline their trade messaging.
Using MT 798, a corporation can apply to its bank for a letter of credit or guarantee, and receive an advice of letter of credit back from its bank. The bank can then notify the issuance of a letter of credit or guarantee, or notify an amendment.
