Bank payment obligation and Passporting: Difference between pages

Revision as of 11:54, 12 August 2016

European Economic Area (EEA) - financial services.

Passporting is the right of financial services firms in the EEA to carry on permitted activities in other EEA states.

Notification to - and approval by - the regulator are required for both inward and outward passporting.

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-(BPO).
+''European Economic Area (EEA) - financial services.''
-A bank payment obligation is a payment instrument that automates the payment of trade transactions.
+Passporting is the right of financial services firms in the EEA to carry on permitted activities in other EEA states.
-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.
+Notification to - and approval by - the regulator are required for both inward and outward passporting.
-==See also==
+== See also ==
-* [[Letter of credit]]
+* [[Brexit]]
-*[[Data matching]]
+* [[European Economic Area]]
-*[[Transaction matching application]]
+* [[European Union ]]
+* [[Free movement of labour]]
+* [[Prudential Regulation Authority]]
-===Other links===
+* [[Schengen Area]]
-*[http://www.treasurers.org/node/9201 Payment Pledge, The Treasurer, July 2013]
+* [[Single Market]]
-*[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]]