You need to verify the 700 mA in your question.
A discrete LED is spec'd at a voltage 2 to 2.5 V at 20 mA. Since the LED is a diode so very little change in voltage change once your get pass the knee. It will take all the current your power source can give out.
In a typical design there will be resistor or a current regulator to prevent over driving. This can be built into your power supply or in your circuit.
A string of 5 LED implies a voltage requirement of 12.5 volts nominal.
A string of 14 LED implies a voltage requirement of 35 volts.
I have not seen any diode rated in the 3 digits but I could be wrong so please check your 700 mA. You can purchase a component call a current regulator which looks like a diode but keeps the current flow constant vs a resistor where the current voltage dependent. There should be one in each string. Check the minimum forward voltage requirements and adjust your power supply output spec's.
If your power source is AC, you need to add a 1N4004 or 1N4007 to protect against the reverse voltage. The 1N4007 (1000 DC volts blocking) is good enough to pass some lightning tests and it is very cheap (19 cents).
The optimal operating point of your diode requires a simple test to find out what it needs. Just put a resistor in series and test for the brightness you require. This will determine your current requirements.