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A payment undertaking would transfer the risk from an insolvency of the exporter to a risk on the issuing bank. The issuing bank would be liable to pay the importer if the exporter fails to perform its part of the contract (subject to the terms of the guarantee or bond).
Letter of undertaking (LOU) is a form of bank guarantee under which a bank can allow its customer to raise money from another Indian bank's foreign branch in the form of a short term credit.
Bank Payment Undertaking (BPU) A BPU allows a seller to substitute the buyer's payment risk with that of the buyer's bank.
I hereby undertake to repay the loan to you in _______ equal and consecutive monthly payments, as of the month of ____________, of the year ________. I am aware that you agree that I may be eligible, at any time and from time to time, to pay off any balance of said loan, all or part thereof.
I hereby undertake to repay the loan to you in _______ equal and consecutive monthly payments, as of the month of ____________, of the year ________. I am aware that you agree that I may be eligible, at any time and from time to time, to pay off any balance of said loan, all or part thereof.

People also ask

A letter of undertaking is a written agreement of terms between two parties. Most often, a contractor will write a letter of undertaking when hired to take on a project. It is a business agreement, and can be legally binding, so it's important to clearly outline terms exactly as you have both agreed to.
A payment undertaking would transfer the risk from an insolvency of the exporter to a risk on the issuing bank. The issuing bank would be liable to pay the importer if the exporter fails to perform its part of the contract (subject to the terms of the guarantee or bond).
I hereby undertake to repay the loan to you in _______ equal and consecutive monthly payments, as of the month of ____________, of the year ________. I am aware that you agree that I may be eligible, at any time and from time to time, to pay off any balance of said loan, all or part thereof.
\u201eA Bank Payment Obligation (BPO) is an irrevocable and independent undertaking of an Obligor Bank to pay or to incur a deferred payment obligation and pay at maturity a specified amount to a Recipient Bank in accordance with the conditions specified in an established baseline.
\u201eA Bank Payment Obligation (BPO) is an irrevocable and independent undertaking of an Obligor Bank to pay or to incur a deferred payment obligation and pay at maturity a specified amount to a Recipient Bank in accordance with the conditions specified in an established baseline.

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