business party identifier
The first element of the BIC, used to identify a business party in a country. The business party identifier consists of 8 contiguous characters. It is composed of the party prefix, the country code, and the party suffix. The business party identifier is assigned by the Registration Authority.
Related linksBusiness Identifier Code (www.swift.com)
Business Identifier Code (BIC)
BIC (Business Identifier Code) is an international standard for routing business transactions and identifying business parties.
Legal Entity Identifier (LEI)
The LEI identifies legal entities in a consistent and accurate global structure, enabling all parties in a transaction to be referenced, clearly and unambiguously.
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How to implement the Unique Transaction Identifier
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Why you should implement the Unique Transaction Identifier now
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