TITLE

SWIFT-ICC Collaborate on "Electronic Letter of Credit"

AUTHOR(S)
Barron, Jacob
PUB. DATE
April 2012
SOURCE
Business Credit;Apr2012, Vol. 114 Issue 4, p52
SOURCE TYPE
Trade Publication
DOC. TYPE
Article
ABSTRACT
The article offers information on the collaboration between financial messaging service providing company Society for Worldwide Interbank Financial Telecommunication (SWIFT), and the banking commission of the International Chamber of Commerce (ICC) to launch the Bank Payment Obligation (BPO) electronic payment tool. It is reported that, the advantage of BPO is that it creates fewer chances for errors throughout the process of creating a commercial letter of credit by automating the process.
ACCESSION #
73310159

 

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