Bank Payment Obligation (BPO) from SWIFT Supports Trade
- Date:June 21, 2013
- Author(s):
- Patricia McGinnis
- Research Topic(s):
- Commercial & Enterprise
- PAID CONTENT
Overview
Except in particularly risky circumstances, world trading partners have almost abandoned the traditional, document-intensive letter of credit. Open account is the prevailing method, despite the risks to suppliers. The BPO gives both buyers and suppliers improved protection and gives banks a potential route back into trade finance.
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