BPO & TSU

New decision in the sphere of Trade finance

Bank Payment Obligation (ВРО) and Trade Service Utility Platform (TSU) – is a new solution that introduces an alternative approach to settlements in foreign trade transactions which offers an opportunity to use the advantages of documentary letters of credit automatically.

 

In March 2011 SWIFT and ICC Banking Commission established a joint working group for development of ICC Uniform Rules for Bank Payment Obligations (URBPO). And, as a result, Uniform Rules for Bank Payment Obligations were formally approved on ICC Banking Commission meeting 18 April 2013 in Lisbon.

 





           

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