Bank payment obligation
From ACT Wiki
A bank payment obligation or BPO constitutes an irrevocable undertaking given by a bank to another bank that payment will be made on a specified date after a specified event has taken place.
External links
http://www.treasurers.org/node/9201 Treasurer article on BPO, July 2013
http://www.iccwbo.org/About-ICC/Policy-Commissions/Banking/Task-forces/Bank-Payment-Obligation-(BPO)/ International Chamber of Commerce Uniform Rules for Bnak payment Obligation (URBPO)