Bank payment obligation: Difference between revisions
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(BPO). | (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. | 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. | |||
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*[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:Cash_management]] | |||
[[Category:Trade_finance]] | [[Category:Trade_finance]] | ||
Revision as of 15:25, 7 April 2015
(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.
See also
