Bank payment obligation: Difference between revisions
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''Cash management and trade finance.'' | |||
(BPO). | |||
[[Category: | 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]] | |||
===Other links=== | |||
*[http://www.treasurers.org/node/9201 Payment Pledge, The Treasurer, July 2013] | |||
*[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]] | |||
Latest revision as of 18:33, 3 September 2018
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
