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eBook - ICC Uniform Rules for Bank Payment Obligations

Price: $30.00
Item No.: 750 eBook
ISBN: 978-92-842-0189-1

THIS IS AN eBOOK.  AFTER COMPLETING THE ORDER PROCESS, AN EMAIL WITH DOWNLOAD INSTRUCTIONS WILL BE SENT TO YOU.  Thank you!

Also Available in book Format.  For printed copy, click Here

ICC Uniform Rules for Bank Payment Obligations (URBPO)

Pub No. 750 eBook
2013 Edition
30 pages
 

Uniform Rules for Bank Payment Obligations (BPOs) are the first ever set of standards in supply chain finance that governs Bank Payment Obligations transactions worldwide.  BPOs enable banks to reduce the risks associated with international trade to the benefit of both buyers and sellers.  A Bank Payment Obligations (BPO) is an irrevocable undertaking given by an Obligor Bank (typically the Buyer's Bank) to a Recipient Bank (the Seller's Bank) to pay a specified amount under the condition of a successful electronic matching of data or acceptance of mismatches. 

Jointly with financial messaging provider SWIFT, the ICC Banking Commission has developed the URBPO to take into account the legitimate expectations of all relevant sectors.  Bankers, traders, lawyers and all trade practitioners who deal with BPO will refer to these rules on a daily basis. 

BPO benefits include:
  • Mitigating risks in international trade for buyers and sellers alike
  • Speed, reliability, convenience
  • Reduced costs and improved accuracy
  • Enhanced risk management
  • Assurance of payment
  • Access to flexible financing
  • Securing the supply chain
For more information, please read the latest Press Release from USCIB.

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