Recipient bank: Difference between revisions
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==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)] | ||
Revision as of 23:49, 23 January 2024
Bank payment obligations (BPOs).
In a BPO, the recipient bank receives the BPO and is entitled to receive money under it at maturity when the BPO conditions have been met through a data match.
The recipient bank receives the money on behalf of its client, the seller.
See also
