Financial Guarantees
SWIFT (Standard Messages)

Insurance guarantees (surety policies) are issued and transmitted via the SWIFT network mainly when a high standard of security, irrevocability, and internationalization of the guarantee itself is required.

Although SWIFT was originally created as an interbank network, today even large, authorized insurance companies use it to communicate directly with the beneficiary banks.

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First American Security (RE), Company registered with the Insurance Services Department of the New York Authorities Section 13-B of the Insurance License Act No. MT124009, offers acceptable Customers, Financials Guarantees for CREDIT ENHANCEMENT clearing membership in Interest Rate Swaps (IRS). 

SWIFT message

MT 760 (Issue of a Demand Guarantee)

This is the main message. It represents the actual issuance of the structured guarantee, containing the amount, expiration, and enforcement conditions. Once transmitted, the commitment is legally binding and enforceable.

MT 767 (Guarantee Amendment)

It is used when the insurance guarantee needs to undergo subsequent modifications, such as extensions of the expiration date or changes to the guaranteed amount.

MT 759

Used in the case of ancillary guarantees or for the transmission of structured commercial messages that do not constitute an independent first-demand commitment.

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FIRST AMERICA SECURITY RE

  • FIRST AMERICA SECURITY (RE) 66, WHITE STREET SUITE 501, NEW YORK, NY 10013