Can documents be discounted against MT 412?

Yes, documents can be discounted against MT 412, which is a message type used in the SWIFT network for issuing and transferring bank guarantees and standby letters of credit. The discounting process involves banks accepting the documents presented under the guarantee for payment prior to their maturity date. However, this is subject to the terms and conditions specified in the underlying agreement and the bank's policies on the creditworthiness of the documents.