BPO

Clearing the path to BPO adoption for international trade finance banks

The release in 2013 of Universal Rules for Bank Payment Obligation by the International Chamber of Commerce effectively endorsed and formalised the structure for international trade finance processes. Despite this, the volume of completed BPO transactions remains low

New Bank Payment Obligation standards launched by Swift

Swift and the Banking Commission of the International Chamber of Commerce have introduced new legal and technology standards for the new Bank Payment Obligation payment instrument. The BPO allows buyers and suppliers to secure and finance international trade transactions. It provides the benefits of a letter of credit in an automated and secured environment, and […]

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