SCO vs FCO
SCO is the seller's indicative offer. FCO is the firm one. The confusion causes most 'the seller changed the price' complaints in the trade.
At a glance
| Criterion | SCO | FCO |
|---|---|---|
| Price commitment | Indicative, subject to prior sale | Firm for validity |
| Quantity commitment | Indicative | Firm |
| Trigger | Marketing outreach | Buyer ICPO / LOI |
| Confidentiality | Often broadcast | One buyer at a time |
| Validity | 'Until sold' | 3-5 banking days |
Use FCO when
Use the FCO for a specific buyer that has committed via ICPO or LOI.
Get the FCO template →SCO vs FCO: Key Differences
SCO is the seller's indicative offer. FCO is the firm one. The confusion causes most 'the seller changed the price' complaints in the trade.
Numerical Example: SCO vs FCO
SCO is the seller's indicative offer. FCO is the firm one. The confusion causes most 'the seller changed the price' complaints in the trade.
Use Case(SCO)Use the SCO to signal availability to a wide market.
Alternative(FCO)Use the FCO for a specific buyer that has committed via ICPO or LOI.
Best ChoiceDepends on your specific needs
Source: SSLT Global Editorial - SCO vs FCO
Last reviewed: October 2026
FAQ
Should a buyer sign an SCO?
No. SCO is informational. Sign only against the FCO or SPA.
Can an SCO price be honoured?
Not automatically. If the buyer wants that price, they must issue LOI/ICPO fast enough to trigger a matching FCO.