THE BANK PAYMENT OBLIGATION (BPO) AND ITS IMPORTANCE IN TURKISH LAW

Özet

Foreign trade is a concept that has been going on since ancient ti-mes. In the historical process, this phenomenon, which started with the exchange method, has become very easy by eliminating the borders between countries with the development of humanity and technology. With the development of foreign trade and the invention of money, the payment methods for the parties who felt the lack of financing. Payment methods consist of collection basis and letters of credit. However, the Bank's Payment Obligation (BPO), which has been developed based on today's conditions and technology, is now included in the payment met-hod. BPO is a new form of payment that enables the realization of trade without requiring any physical document control by automatically matc-hing the buyer and seller information through a computer software prog-ram through banks. In this study, issues such as what BPO is, benefits, advantages over other forms of payment and functioning and its place in Turkish Law are discussed.