Renowned trade finance institutions including BNP Paribas, Commerzbank, Intesa Sanpaolo, İşbank, LBBW, Raiffeisen Bank International AG, S-Servicepartner, SMBC, and TradeIX together with international law firm Sullivan & Worcester and facilitated by the International Trade & Forfaiting Association (ITFA), designed and released the first rulebook for Marco Polo’s Payment Commitment solution.
The new trade finance instrument, Irrevocable Payment Commitment (IPC) introduced earlier this year and offered by the Marco Polo Network, secures payments against the successful matching of digital trade data.
