Uniform Rules for Bank Payment Obligations (URBPO)

Uniform Rules for Bank Payment Obligations (URBPO)
By ICC Banking Commission (ICC)
Order your copy now at our International Bookstore

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

Staff Contact:   Eric Robinson

Accounting and Claims Mitigation Analyst
Tel: 212.703.5078

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