50+ corporate relationships live on BPO “We were able to share shipping documents with BNPP electronically and in a matter of hours we received confirmation that they were fine.” “In terms of ease of working, it’s very positive, and we plan to conduct BPOs with full cargoes in the future .” Michael Van Steenwinkel Source: Global Trade Review Global Credit Manager 1 BP Petrochemicals
20 banking groups live on BPO Including 6 of the top15 Trade banks (based on Cat 7 traffic) 2
April 2015 – First ever BPO with eB/L Exporter Importer 1. Delivery contract (Iron Ore) and agreement on BPO Previously through documentary Credit Mining industry Commodity / Agriculture industry 3. eB/L held 5. Release of eB/L 3. Shipping 2. Data for in escrow data sets baseline Recipient bank Obligor bank 4. Matching of trade data
Case study - BP Aromatics - BPO Advising - April 2014 First multibank BPO transaction under URBPO rules in Europe BPO Parties involved in the transaction BNP Paribas Fortis Belgium: Recipient Bank BP Aromatics (Belgium): Exporter (supplier) Türkiye İş Bankasi: Obligor Bank Köksan (Turkey): Importer The objective of this BPO was to replace an existing SBLC Invoice Test phase BPO request BPO accepted BPO due due date 2 days D D+1 D+3 D+3 Baseline submitted with Baseline Data set received Mismatch Payment BPO conditions established Mismatch acceptance BPO increases loyalty between commercial parties and provides the expected operational efficiency for BP Aromatics 4
Case study - TEMSA - Deferred payment BPO - December 2014 First BPO Financing transaction under URBPO rules in Europe BPO Parties involved in the transaction Temsa (Turkey): Importer TEB: Obligor Bank ZF (Germany): Exporter Unicredit Germany: Recipient Bank The objective of this BPO was to replace open account transaction Financing structure under a deferred payment BPO as designed by TEB and Unicredit allows ZF to support TEMSA by offering longer payment terms 5
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