January 2017

  • Typographical errors revisited
    In an earlier blog, we highlighted that poorly prepared documents can have a severe detrimental impact on a transaction, leading (at best) to delays in settlement...
  • Is there a need for BPO 2.0?
    Looking back through old files can be quite a revelation...
  • Uniform Rules for Bank Payment Obligations (URBPO)
    The URBPO (ICC Publication 750) were unanimously adopted during the April 2013 meeting of the Banking Commission...
  • BPO: an introduction
    A Bank Payment Obligation (BPO) is an irrevocable and independent undertaking given by an Obligor Bank (typically the Buyer's Bank) to a Recipient Bank (the Seller's Bank) to pay a specified amount on an agreed date under the condition of a successful electronic matching of data according to the Uniform Rules for Bank Payment Obligations (URBPO), ICC Publication No...