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Is an ICPO binding?

Irrevocable Confirmed Purchase Order [ICPO] rules: Once the ICPO is issued, it must be honoured by both parties; the buyer and supplier. If either party does not honour this commitment, this will be considered as a major offense. An ICPO is a legally BINDING document.

What is a corporate purchase order?

A purchase order is a commercial source document that is issued by a business' purchasing department when placing an order with its vendors or suppliers. The document indicates the details on the items that are to be purchased, such as the types of goods, quantity, and price.

What is ICPO and BCL?

1-The buyer issues ICPO (Irrevocable Corporate Purchase Order) and BCL or RWA as POF-Proof of Funds. 2-Seller / Exporter issues FCO (Complete Corporate Offer) . 3-The buyer returns the signed and stamped FCO. 4-The seller issues the draft of the contract.

What is ICPO or LOI?

A document similar to a letter of intent (LOI) used by companies to communicate their intent to enter into a transaction with a foreign-based company and provide verification of purchasing terms, banking information, and company financials.[1]

What is irrevocable corporate purchase order?

Irrevocable Corporate Purchase Order (ICPO) is a document drawn up by commercial buyers. It contains: the quantities of products required. the type of products required. other conditions that the buyer wants the sale to proceed under.

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