Bank payment obligation: Difference between revisions
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''Cash management and trade finance.'' | |||
(BPO). | (BPO). | ||
A bank payment obligation is | A bank payment obligation is an instrument that automates the payment of trade transactions. | ||
It is an irrevocable undertaking of a buyer's bank to pay a specified amount to the seller's bank, when it receives notification of a data match from an independent [[data matching]] service. | |||
The buyer's bank is the 'obligor bank' under the BPO. | |||
The seller's bank is the 'recipient bank'. | |||
==See also== | ==See also== | ||
* [[Cash management]] | |||
* [[Letter of credit]] | * [[Letter of credit]] | ||
*[[Data matching]] | |||
*[[Obligor bank]] | |||
*[[Recipient bank]] | |||
*[[Trade finance]] | |||
*[[Transaction matching application]] | |||
*[[URBPO]] | |||
==Other | ==Other resource== | ||
*[http://www.iccwbo.org/About-ICC/Policy-Commissions/Banking/Task-forces/Bank-Payment-Obligation-(BPO)/ International Chamber of Commerce Uniform Rules for Bank payment Obligation (URBPO)] | *[http://www.iccwbo.org/About-ICC/Policy-Commissions/Banking/Task-forces/Bank-Payment-Obligation-(BPO)/ International Chamber of Commerce Uniform Rules for Bank payment Obligation (URBPO)] | ||
[[Category: | [[Category:Financial_products_and_markets]] | ||
Latest revision as of 23:52, 23 January 2024
Cash management and trade finance.
(BPO).
A bank payment obligation is an instrument that automates the payment of trade transactions.
It is an irrevocable undertaking of a buyer's bank to pay a specified amount to the seller's bank, when it receives notification of a data match from an independent data matching service.
The buyer's bank is the 'obligor bank' under the BPO.
The seller's bank is the 'recipient bank'.
See also
- Cash management
- Letter of credit
- Data matching
- Obligor bank
- Recipient bank
- Trade finance
- Transaction matching application
- URBPO