Bank payment obligation: Difference between revisions
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A bank payment obligation or BPO | A bank payment obligation or BPO is a payment instrument that automates the payment of trade transactions. It is an irrevocable undertaking of the importer’s bank to pay a specified amount to the exporter’s bank when it receives notification of a data match from an independent data matching service. | ||
Revision as of 14:23, 17 October 2013
A bank payment obligation or BPO is a payment instrument that automates the payment of trade transactions. It is an irrevocable undertaking of the importer’s bank to pay a specified amount to the exporter’s bank when it receives notification of a data match from an independent data matching service.