ICC Official Launch of the ICC BPO Rules 17 May 2013, Paris
Venue: ICC Headquarters
|Event Date/Time: May 17, 2013||End Date/Time: May 17, 2013|
The ICC has set itself an ambitious goal to introduce an innovative way for trading counterparties to secure and finance their open account trade transactions via their banking partners. The new instrument called “Bank of Payment Obligation” (BPO) will enable importers and exporters to involve their preferred banking partners in their trade transactions and get flexible risk and financing services. Based on standardised messaging and advanced transaction matching operated by SWIFT, this new instrument will accelerate the financial supply chain in support of ever accelerating physical supply chains.
For this official one-off launch, members of the ICC URBPO Drafting Group and Education Group will come together to give a full public presentation of the new rules, followed by an exclusive training session to offer a valuable insight into this new means of payment.
Andre Casterman, Co-chair of the ICC URBPO Project and Head of Corporate and Supply Chain Markets at SWIFT, Belgium
Michael F. Quinn, Co-chair of the ICC URBPO Education Group and Managing Director of Global Trade at JP Morgan Chase, United States