EANCOM PART III DATA ELEMENT & CODE SETS DIRECTORY   1997-07-01

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4277	Terms of payment identification   Identification of the terms of payment between the parties to a transaction (generic term). Note: Use UN/ECE Recommendation No. 17 Payterms. If not applicable, use appropriate code set in combination with 1131/3055, or values underneath.

+ 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.

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