Marco Polo Network achieves key milestone in completing rulebook for the Payment Commitment Trade Finance 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.

The Marco Polo Rulebook for Payment Commitment provides a legal framework for the creation of Irrevocable Payment Commitments using the Marco Polo Payment Commitment Module.  An IPC relates to an Underlying Trade Transaction with respect to which participants have agreed to engage in an IPC transaction pursuant to an IPC program.