ICC Guide to the Uniform Rules for Bank Payment Obligations
Publisher: ICC Publication Publisherâ€™s URL: http://store.iccwbo.org/icc-guide-to-the-uniform-rules-for-bank-payment-obligations
Publisherâ€™s Descriptions The ICC Guide to the Uniform Rules for Bank Payment Obligations examines the ways in which the three critical components - standards, platform and rules - must interact and complement one another to facilitate the successful completion of a BPO transaction.
BPOs enable banks to mitigate the risks associated with international trade to the benefit of both buyers and sellers. They enable flexible financing propositions across the entire transaction lifecycle, including pre-shipment, post-shipment and buyer finance. This invaluable handbook explains workflow in detail and guides practitioners in their interpretation of the Uniform Rules for Bank Payment Obligations. The Guide to URBPO provides real life business scenarios and practical examples of how a Bank Payment Obligation may be applied in practice to support a variety of customer value propositions. It will help corporates to take full advantage of a host of bank-assisted open account solutions designed to optimise the management of the cash conversion cycle and of working capital.
This Guide is a vital reference for anyone involved in financial supply chain transactions and for students of international commerce.
Best Trade Solutionâ€™s Review As we all know, URBPO is the youngest of all the rules out there. The concept is very new and its very natural that those who were not related to drafting process of URBPO would be unknown of its working. So any book written on URBPO has to be plain and simple and to the point. ICC official publication â€œThe Guide To URBPOâ€ has nailed that need. Writer David J. Hennah has slowly and systematically explained the whole idea of URBPO.
The book would first catch your attention when it explains how URBPO is a complete package while UCP is only a rule. As you continue reading, you would find lots of drawings explaining the different related concepts. For example, a comparison figure on page 28 fantastically explains how URBPO is a great tool compare to LC and open account.
BPO, by nature, inevitably involves electronic data transfer. Therefore, a bit technical knowhow helps understanding BPO better. The author understood this need and described the technical details in plain and simple language so that non-technical readers (like bankers!!) can understand the working of BPO better.
There is some redundant information which the author could have omitted. For example the statement that BPO is not intended to replace physical document and how it is different from eUCP has been explained several times.
Overall it s a good book to read and have in collection.