How do I set the modem for 7 data bits, 2 stop bits and No parity bit?

Use the DTE-DCE Character Framing command AT+ICF=x,x (not to be confused with the +IFC command).

The following command will give you 7 Data Bits, No Parity, 2 Stop Bits (7N2):

AT+ICF=4,4

For more info see our Wireless GSM/GPRS Modems AT Commands Reference Guide at:

http://www.multitech.com/en_US/DOCUMENTS/Families/MultiModemGPRS/manuals