Author: Klaus VORPEIL
N0: 1 de 2014
A bank payment obligation (BPO) is an irrevocable conditional undertaking given by a bank to another bank that payment will be made on a specified date after a successful electronic matching of data. BPOs are designed for open account transactions. They are an alternative means of settlement in international trade. The ICC has developed rules for BPOs (URBPO) that provide a legal framework for them in worldwide practice.