ISO 9362:2014 specifies the elements and structure of a universal identifier code, the business identifier code (BIC), for financial and non-financial institutions, for which such an international identifier is required to facilitate automated processing of information for financial services.
The BIC is used for addressing messages, routing business transactions and identifying business parties.
This International Standard applies to organizations and excludes individual persons.
Note: This standard is updated by a Maintenance Agency or Registration Authority
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A standard is reviewed every 5 years
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