Payment By Bank Payment Obligation (BPO)
A Bank Payment Obligation (BPO) is an irrevocable and independent undertaking of an Obligor Bank (the bank of the buyer/importer) to pay (or to incur a deferred payment undertaking and pay at maturity) a specified amount to a Recipient Bank (the bank of the seller/exporter) after a successful electronic matching of pre-agreed data sets (or acceptance of any mismatches) according to an industry-wide set of rules issued by the International Chamber of Commerce (ICC), the Uniform Rules for Bank Payment Obligations (URBPO).
Parties involved:
- Obligor Bank: the bank that issues a BPO and is usually, but not always, the Buyer’s Bank.
- Recipient Bank: the bank that is the beneficiary of a BPO and is always the Seller’s Bank.
Import Export Finance & Bank Payments
Please contact us for a no obligation discussion regarding starting, set up or develop an import export business or to discuss trade investment opportunities in West Africa.
- Bank Letter of Credit (L/C)
- Standby Letter Of Credit (SBLC)
- Bank Guarantees & Counter Guarantees
- Bank Payment Obligation (BPO)
- Documents Against Bank Payment