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First European multi-bank BPO
06/06/2014
BP Petrochemicals has completed the first European centric Bank Payment Obligation subject to the URBPO rules. A short press release can be found in the following link:
http://www.gtreview.com/trade-finance/global-trade-review-news/2014/May/BP-agrees-first-European-multi-bank-BPO_11677.shtml
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Recent News
Summer 2025 Newsletter added to Members Trade Information section
08/08/2025
The latest newsletter is now available in the members trade information section under the category of 'Newsletters'...
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Achieving inclusive AI - a paper issued by ICC
08/07/2025
With AI becoming more and more involved with trade finance, the ICC has issued the following paper...
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Latest Question
1. Please explain the terms FREE IN (FI) and FREE OUT (FO). 2. Please explain the term THC (terminal handling charge). Is it a cost additional to freight? 3. The credit calls for a bill of lading to be marked freight prepaid, and the port of discharge is actually an inland city. Presented bill of lading shows the place of destination as this inland city, but indicated “ocean freight prepaid” rather than “freight prepaid”. In my opinion, it is not acceptable. Please confirm.
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