Final hurdle cleared for BPOs to take off
Apr 29, 2013
UR BPO rules to go live; 50 banks on board
New rules outlining the practice for bank payment obligation (BPO) have been written and will be enforceable in July. Although a handful of BPOs have already been transacted, lack of guidelines prevented many bankers from using the supply chain tool.
Universal rules governing the practice of BPO have been agreed and will be effective July 1, 2013. About 50 banks have already signed up to adopt them, CT has learned.
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