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Rules of ICPO formulation (Irrevocable Corporate Purchase Order)



Any authentic buyer is familiar with the rules of formulation for such documents such as an ICPO and BCL, but in order to save our time we decided to upload some examples. Disregarding these will not lead to a joint operation with us.

We always require accurate and complete documents, which can be provided to suppliers. We will always reply to those companies whose documents are prepared properly. Frankly an improperly completed or processed ICPO will not even be examined.

ICPO must be issued in both Russian and English. Examples of ICPO formulation you can found below.


(ON BUYER'S LETTERHEAD)



To:
Attn.: Mr.






ICPO__________                    "___" ___________ 201__


IRREVOCABLE CONFIRMED PURCHASE ORDER (ICPO) # _____



We, /name of organization/, on behalf of /full name of the finance manager or director/, acting ground /document giving the right to dispose on behalf of organization/, with the complete responsibility as "Buyer", order the following goods:


Commodity:

GASOIL D2 L-0.2-62 Russian Export Blend Crude Oil (REBCO)

Origin:

Russian Federation

The detailed specification:

GOST 305-82 GOST R 51858-2002

Total quantity:

X,X00,000 MT XX,000,000 bbl

Monthly shipment:

XX0,000 MT X,000,000 bbl

The price and discount:

To be mutually agreed upon by Buyer & Seller

Shipment:

CIF ASWP (your destination port), Free on Board (FOB)

Single Shipment Quantity:

From 100.000 up to ___ tons 1,000,000 bbl

Payment terms:

Irrevocable, Transferable, Confirmed, Divisible Automatically Revolving Documentary Letter of Credit Payable 100% at Sight and shall be automatically revolving to the next shipment until completion of the contracted quantity. The RDLC need to be issued from one of the prime world bank.

Payment Procedure:

According to the terms of the contract, to be mutually agreed upon by Buyer & Seller

Transaction Procedure:

According to the terms of the contract, to be mutually agreed upon by Buyer & Seller

Inspection:

SGS for Quantity and Quality

Performance Bond:

Two percents (2,0%) monthly value of RDLC.


Buyer’s Bank information:

BANK NAME:
ADDRESS:
TELEX:
BANK OFFICER NAME:
SWIFT (code):
ACCOUNT NAME:
ACCOUNT NUMBER:

We also give our sanction to SELLER (OJSC "....") to make inquiry of our solvency concerning the given bargain (Soft Probe, code...) thus we authorize Bank in the period of validity this ICPO to give the necessary information.

Bank Officer:
Phone:
Fax:
E-mail:


___________________ (sign and seal)

The given ICPO is a legal basis for transferring by the SELLER of the accepted names and sizes of the project of the prepared contract, and also is an integral part of the future.



Sincerely,
General Director


___________________(sign and seal)




Blank of ICPO

Blank of FCO








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