The following is excerpted from a 21 September 2011 news release by the International Chamber of Commerce.
SWIFT, the financial messaging provider for more than 9,700 financial institutions and corporations in 209 countries, and the Banking Commission of the International Chamber of Commerce (ICC) have signed a Declaration of Cooperation that will enable industry-wide adoption of the Bank Payment Obligation (BPO)...
This release is available in its entirety on the International Chamber of Commerce website at: http://www.iccwbo.org/policy/banking/index.html?id=45768