This field specifies either the details of the individual transaction or a reference to another message containing the details which are to be transmitted to the beneficiary customer.
One of the following codes may be used, placed between slashes ('/'):
Invoice (followed by the date, reference and details of the invoice).
Unique reference identifying a related International Payment Instruction (followed by up to 20 characters).
Reference for Beneficiary
Reference for the beneficiary customer (followed by up to 16 characters).
Reference of Customer
Ordering customer's reference.
Trade Services Utility transaction
The code placed between slashes ('/') must be followed by the TSU transaction identifier, a slash ('/'), the invoice number, a slash ('/') and the amount paid.
For clearing purposes, the Sender must check with the Receiver regarding length restrictions of field 70.
The information specified in this field is intended only for the beneficiary customer, that is, this information only needs to be conveyed by the Receiver.
Multiple references can be used, if separated with a double slash, '//'. Code must not be repeated between two references of the same kind.
For STP purposes, when an ISO 11649 Creditor Reference is present in this field it must be on the first line, without any characters preceding it, and it must be the only information on that line.