Bank payment obligation: Difference between revisions
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imported>Maw@allmanward.com No edit summary |
imported>Doug Williamson m (Put acronym at beginning of term explanation) |
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A bank payment obligation | (BPO). | ||
A bank payment obligation 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 09:44, 30 October 2013
(BPO).
A bank payment obligation 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.