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:   Greg Tondi

Controller
Tel: 212.703.5080

Greg Tondi serves as USCIB’s Manager of Accounting and Finance, bringing with him expertise in not-for-profit and private sector accounting, finance and academics. Prior to joining USCIB, Tondi was Controller at the College of St. Elizabeth in Morristown, NJ for the past couple of years. Before assuming his Controller position at the College of St. Elizabeth, Tondi was an Associate Manager of Accounting and Financial Analyst for Prudential Financial. He also spent several years as a high school teacher. Tondi enjoys teaching and continues as an Adjunct Professor at New Jersey City University where he received his Masters in Accounting. Tondi received his Bachelor of Science in Finance from Rutgers University. He co-published an industry paper on the impact of the Sarbanes-Oxley Act on small businesses. Tondi is a Certified Public Accountant in the state of New Jersey.
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