Bank payment obligation: Difference between revisions

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imported>Doug Williamson
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imported>Maw@allmanward.com
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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.
A bank payment obligation or BPO 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 14:23, 17 October 2013

A bank payment obligation or BPO 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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