MISUMI requires all international transfers to be made with the OUR instruction
1. Use OUR at field 71A “Details of Charges”
2. Note Proforma Invoice number at field 70 “Remittance information”
**Note: Please kindly follow above instruction for processing the order promptly
What are BEN, SHA, OUR payment instructions?
When you make an international wire transfer (MT103 SWIFT) you can choose who pays the transfer charges.
**Note: The MT103 is a SWIFT message format used for making payments. MT103 SWIFT payments are known as international wire transfers, telegraphic transfers, standard EU payments (SEPA payments), LVTS in Canada, etc.
BEN, SHA, OUR are codes in a SWIFT instruction, at field 71A "Details of Charges".
▲ OUR instruction means you pay all transfer charges. We receive all your payment.
▲ SHA (shared) means you only pay your bank's outgoing transfer charge. We receive your payment minus
the correspondent (intermediary) bank charges.
▲ BEN (beneficiary) means you do not pay any charge. We receive your payment minus all transfer charges.
|MT103 fields (reference only)|
|:20||Transaction Reference Number|
|:23B||Bank Operation Code|
|:32A||Value Date / Currency / Interbank Settled|
|:33B||Currency / Original Ordered Amount|
|:50A, F or K||Ordering Customer (Payer)|
|:52A or D||Ordering Institution (Payer's Bank)|
|:53A, B or D||Sender's Correspondent (Bank)|
|:54A, B or D||Receiver's Correspondent (Bank)|
|:56A, C or D||Intermediary (Bank)|
|:57A, B, C or D||Account with Institution (Beneficiary's Bank)|
|:59 or 59A||Beneficiary|
|:70||Remittance Information / Message to the Beneficiary (Please note your PI number for processing the order promptly.)|
|:71A||Details of Charges (BEN / OUR / SHA)|
|:72||Sender to Receiver Information|
Note: Upon TT arrangement, please double check each data information are correctly/completely as listed.
For example: In Favor of:Misumi Electronics Corp.Not just"Misumi" as before that caused some trouble to Misumi & bank for the money release.