The first ever set of standards on Bank Payment Obligations have just been drafted jointly by SWIFT and the ICC. URBPO lays out rules for payment between banks, a sort of letters of credit between these banks which seeks to establish uniformity of practice in the world market.
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
Publication No. 750
Paperback, 2013 Edition
Price : $35.00 (for members & non-members)
IF YOU ARE PLANNING TO SHIP OUTSIDE OF THE U.S. (Canada, Mexico, Etc...), PLEASE DO NOT PROCEED WITH PURCHASE AND CONTACT THE NEI AT 202-466-0222 OR EDUCATION@NCBFAA.ORG IMMEDIATELY.