The BPO could be used instead of a letter of credit. As like a L/C it constitutes an irrevocable undertaking of a bank to pay a specified amount on an agreed date, against successful data matching with an established “baseline”, without the usual charges of a L/C.
With a BPO ready bank, payments via BPO are easily processed.
Advantages of BPO:
• lean process
• much faster receipt of shipping documents
• significant lower costs than with L/C *)
• no down payment necessary
• payment effected after shipment, against shipping details
*) Banking charges are:
Flat fees for processing the BPO
Confirmation fee
Commission for payment undertaking
If you are interested in this Bank Payment Service please inform us. We can check with your Banlk if they accept BPO.
We are looking forward hearing from you.
Best Regards
Your Power-Heat-Set Team