Bank payment obligation: Difference between revisions
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imported>Doug Williamson (Identify trade finance and cash management context.) |
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==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 23:52, 23 January 2024
Cash management and trade finance.
(BPO).
A bank payment obligation is an instrument that automates the payment of trade transactions.
It is an irrevocable undertaking of a buyer's bank to pay a specified amount to the seller's bank, when it receives notification of a data match from an independent data matching service.
The buyer's bank is the 'obligor bank' under the BPO.
The seller's bank is the 'recipient bank'.
See also
- Cash management
- Letter of credit
- Data matching
- Obligor bank
- Recipient bank
- Trade finance
- Transaction matching application
- URBPO
