LC Fields Explained: How to Read a Letter of Credit (44C, 44B, 45A, 46A, 47A)

LC fields are the numbered tags of the SWIFT MT700 message that issues a letter of credit. The ones exporters must read before drafting anything: 45A (goods description), 46A (documents required), 47A (additional conditions), 44C (latest shipment date), 44B (final destination), 48 (presentation period) and 39A (tolerance). Your documents are checked against these fields, not against the shipment.

Jump to a field: 44C · 44D · 44A · 44E · 44F · 44B · 45A · 46A · 47A · 48 · 31D · 32B · 39A · 43P · 43T · 42C / 42a · Free LC field checklist (PDF)

Most first-time exporters treat a letter of credit like a formality — something the bank sends once the buyer's financing is arranged. Then a presentation gets rejected over a detail nobody read closely, and it becomes clear the LC itself was the actual instruction manual the whole time. Reading it field by field, before you draft a single document, is what prevents that.

Key MT700 fields at a glance

Field 44C: Latest date of shipment

Field 44C sets the latest date of shipment — a deadline for the on-board (or dispatch) date shown on the transport document, not for booking. Missing it is a discrepancy no amount of correct paperwork can fix; if production slips, get the buyer to amend 44C before the date passes.

Sample wording: 44C: 261130 — the date is in YYMMDD format, so this means 30 November 2026. A B/L showing goods shipped on board on 1 December 2026 would be discrepant.

Field 44D: Shipment period

Some credits use 44D instead of 44C: a window rather than a single deadline. A credit has one or the other, never both. The on-board date must fall inside the period, so shipping early can be as much of a problem as shipping late.

Sample wording: 44D: SHIPMENT DURING NOVEMBER 2026

Field 44A: Place of receipt

Field 44A is the place of taking in charge, dispatch from, or place of receipt. It is used when the carrier takes the goods before the port, for example at an inland container depot. A multimodal transport document should show this place as where the goods were taken in charge.

Sample wording: 44A: ICD LUDHIANA, INDIA

Field 44E: Port of loading

Field 44E is the port of loading (or airport of departure). The bill of lading must show this port as the port of loading. A B/L that shows a different port of loading than 44E is a classic discrepancy. See how to fill a bill of lading.

Sample wording: 44E: NHAVA SHEVA, INDIA or 44E: ANY INDIAN PORT

Field 44F: Port of discharge

Field 44F is the port of discharge (or airport of destination). The transport document must show it as the port of discharge. If the credit names a range ("any European port"), the document must show an actual port within that range.

Sample wording: 44F: HAMBURG, GERMANY

Field 44B: Place of final destination

Field 44B is the place of final destination, for transportation to, or place of delivery. 44B is a place, not a deadline: it matters when the shipment continues inland beyond the discharge port, and the transport document should be consistent with it.

Sample wording: 44B: MUNICH, GERMANY

Field 45A: Description of goods

Field 45A carries the description of goods and services. Under UCP 600, the description on the commercial invoice must correspond with it — not necessarily word-for-word, but without adding, dropping or contradicting anything material. Other documents (transport document, certificate of origin) may describe the goods in general terms, as long as they don't conflict. The safest practice is to copy the 45A wording onto the invoice exactly, then add your own detail beneath it.

Sample wording: 45A: +5,000 PCS 100% COTTON KNITTED T-SHIRTS AS PER PROFORMA INVOICE NO. EXP/112 DATED 02.10.2026, CIF HAMBURG INCOTERMS 2020

Field 46A: Documents required

Field 46A lists the documents required for presentation: how many originals and copies of the invoice, which transport document and how it must be consigned and endorsed, whether a certificate of origin, insurance document or inspection certificate is needed, and who must issue it. Treat 46A as the actual checklist for this shipment — more authoritative than any general template. Our letter of credit documents checklist covers the consistency checks to run once drafting starts.

Sample wording:

• +SIGNED COMMERCIAL INVOICE IN 3 ORIGINALS AND 2 COPIES
• +FULL SET OF CLEAN ON BOARD OCEAN BILLS OF LADING MADE OUT TO ORDER OF ISSUING BANK, MARKED FREIGHT PREPAID, NOTIFY APPLICANT
• +INSURANCE CERTIFICATE IN DUPLICATE, ENDORSED IN BLANK, FOR 110 PCT OF CIF VALUE, COVERING INSTITUTE CARGO CLAUSES (A) — see the marine insurance certificate guide
• +CERTIFICATE OF ORIGIN ISSUED BY A CHAMBER OF COMMERCE — see preferential vs non-preferential certificates of origin
• +BENEFICIARY'S CERTIFICATE CONFIRMING SHIPMENT ADVICE SENT TO APPLICANT WITHIN 3 DAYS OF SHIPMENT — see the shipment advice format

Field 47A: Additional conditions

This is where credits get specific in ways a generic checklist never will: a requirement that every document show the LC number, a rule about which body issues the certificate of origin, a ban on third-party documents, a clause on freight terms or the age of the vessel. Field 47A is short, dense, and easy to skim past — and it's disproportionately where discrepancies come from. If a 47A condition can't be met, ask the buyer for an amendment before you ship.

Sample wording:

• +ALL DOCUMENTS MUST INDICATE THIS CREDIT NUMBER.
• +THIRD PARTY DOCUMENTS NOT ACCEPTABLE.
• +A DISCREPANCY FEE OF USD 75.00 WILL BE DEDUCTED FROM THE PROCEEDS OF EACH DISCREPANT PRESENTATION.

Field 48: Period for presentation

Field 48 sets how many days after shipment you have to present documents. If it's silent, UCP 600 allows no more than 21 calendar days after the shipment date — and never later than the expiry in field 31D. Both limits apply: whichever comes first is your real deadline.

Sample wording: 48: 21/FROM THE DATE OF SHIPMENT

Field 31D: Date and place of expiry

Field 31D gives the expiry date and the place where documents must be presented by that date. "Expiry in India" and "expiry at the issuing bank's counters abroad" are very different deadlines once courier time is counted.

Sample wording: 31D: 261231INDIA — expires 31 December 2026, with documents presentable in India.

• Latest shipment date (44C) — deadline for the on-board date, not for booking
• Presentation period (48) — days allowed after the transport document date; 21 if the LC is silent
• Expiry date and place (31D) — where and by when documents must actually reach the bank

Field 32B: Currency and amount

Field 32B is the currency and maximum amount of the credit. Your invoice must be in this currency and, unless 39A gives a tolerance, must not exceed this amount.

Sample wording: 32B: USD50000,00 — SWIFT uses a comma as the decimal separator, so this is USD 50,000.00.

Field 39A: Amount tolerance

Field 39A states any tolerance on the credit amount. There is no automatic 10% tolerance: under UCP 600 Article 30, a 10% variation applies only where the credit uses words like "about" or "approximately" before the amount, quantity or unit price. Without those words, a 5% quantity tolerance applies only to goods not counted in packing units or individual items (bulk goods), and the amount still can't be exceeded.

Sample wording: 39A: 05/05 — up to 5% more or 5% less than the amount in 32B.

Field 43P: Partial shipments

Field 43P says whether you may split the goods across more than one shipment. Splitting a shipment the LC doesn't permit is a discrepancy even if every document is otherwise perfect.

Sample wording: 43P: NOT ALLOWED (other values: ALLOWED, CONDITIONAL — then read 47A for the condition)

Field 43T: Transhipment

Field 43T says whether goods may be moved from one vessel to another on the way. Check the carrier's routing before booking: if 43T says NOT ALLOWED and the B/L shows transhipment, ask your bank how UCP 600 Article 20 applies to containerised cargo before you present.

Sample wording: 43T: ALLOWED

Fields 42C and 42a: Drafts and drawee

Field 42C gives the tenor of the bill of exchange you must draw (at sight, or a number of days after sight or after the B/L date). Field 42a names the drawee, which under an LC is a bank, never the buyer. If neither field appears, the credit may not need a draft at all. See the bill of exchange guide for a sample format and how to draw a bill of exchange under an LC.

Sample wording: 42C: AT 60 DAYS AFTER B/L DATE and 42a: ISSUING BANK

Check your documents against the LC before you present

Once every field is read, run the same checks a bank examiner will. Most rejected presentations fail one of these:

1. Invoice vs 45A and 32B: goods description corresponds with 45A, currency matches, total is within 32B and the 39A tolerance.
2. Transport document vs 44A–44F and 44C: ports and places match, the on-board date is on or before 44C, and consignee and notify party follow 46A.
3. Every 46A document present: right number of originals and copies, issued by the party the credit names, signed where required.
4. Every 47A condition met: for example the LC number on every document, no third-party documents if forbidden.
5. Insurance (if CIF/CIP): at least 110% of the CIF value, same currency as the credit, dated no later than shipment — see the marine insurance certificate guide.
6. Bill of exchange (if 42C asks for one): right tenor, drawee and amount — see the bill of exchange guide.
7. Dates: presented within the field 48 period and before the 31D expiry, whichever comes first.
8. Documents agree with each other: quantities, weights, marks and descriptions match across the invoice, packing list, B/L and certificate of origin.

The full document-by-document version is in the LC documents checklist for exporters. To keep this field list next to the credit while you draft, download the free LC field checklist (PDF).

Mapping the LC to your document set

Once you've read the credit this closely, turn it into a checklist for this specific shipment: one line per 46A document, each 47A condition, the 44C/48/31D dates, and the 45A wording to copy. Bilexor keeps your commercial invoice and packing list tied to one shipment record, so the goods description and figures you've mapped from the LC stay consistent across every document you generate from it. Informational only — not banking or UCP advice; confirm LC-specific requirements with your bank before you ship or present documents.

Frequently Asked Questions

What is 44C in a letter of credit?

Field 44C is the latest date of shipment. The on-board or dispatch date on your transport document must be on or before it. If it can't be met, the buyer needs to amend the credit before the date passes.

What is 44A in a letter of credit?

Field 44A is the place of taking in charge, dispatch from, or place of receipt — where the carrier takes the goods, such as an inland container depot. It is different from 44E, the port of loading.

What is 45A in a letter of credit?

Field 45A is the description of goods and/or services. The commercial invoice description must correspond with it; other documents can describe the goods in general terms as long as they don't conflict.

What is 44B in a letter of credit?

Field 44B is the place of final destination — used when goods travel beyond the port of discharge (44F). It is a location, not a date, and the transport document should be consistent with it.

What is the difference between 44E and 44F in an LC?

44E is the port of loading (or airport of departure) and 44F is the port of discharge (or airport of destination). The bill of lading or air waybill must show both as the credit states them.

What is the difference between 46A and 47A?

46A lists the documents you must present. 47A sets additional conditions that apply to those documents or the shipment — for example quoting the LC number on every document, or who may issue a certificate.

What is field 48 in a letter of credit?

Field 48 is the period for presentation: the number of days after the shipment date within which documents must be presented, e.g. 21/FROM THE DATE OF SHIPMENT.

How many days do I have to present documents under an LC?

Whatever field 48 states. If the credit is silent, UCP 600 allows up to 21 calendar days after shipment — and in every case no later than the expiry date in field 31D.