Free Full Corporate Offer (FCO) Template
The seller's binding commercial offer in a physical commodity transaction. Countersigned FCO means the deal is on the table, ready to move into SPA drafting.
What this template includes
This Full Corporate Offer template includes: Specification, Commercial terms, Payment and procedures, Inspection, Acceptance and validity.
| Clause | What it does | Why it protects you |
|---|---|---|
| Specification | Full technical specification with guaranteed values and tolerance, or an attached spec sheet. | Gives the buyer an objective quality standard that inspection can test against. |
| Commercial terms | Price, currency, Incoterms 2020, quantity, tolerance, delivery schedule and contract term. | Fixes the commercial frame the SPA will follow, so terms cannot drift later. |
| Payment and procedures | Payment instrument and a step-by-step procedure calendar in banking days. | Sets the order of obligations, so neither side has to perform first without security. |
| Inspection | Independent inspector (for example SGS or Intertek) at load and discharge, with cost allocation. | Provides neutral evidence of quality and quantity if the cargo is disputed. |
| Acceptance and validity | Buyer countersigns within X banking days; the SPA follows within Y banking days. | Stops a stale offer being accepted months later at an outdated price. |
Clause summaries are drafting guidance, not legal advice. Have the final document reviewed under its governing law.
What this document is, and is not
This FCO is a commercial drafting template that records what the parties intend or have agreed at one stage of a deal. It is not a bank instrument, not proof of product or funds, and not a substitute for qualified legal counsel in the governing-law jurisdiction.
Typical deal sequence: CIS → LOI or ICPO → SCO/FCO → SPA → LC/SBLC.
Next steps: price the payment instrument with the LC Cost Calculator, agree the delivery term with the Incoterms 2020 cost and risk split, and prepare documents with the LC documents checklist. Background: letter of credit guide.
A Full Corporate Offer (FCO) is the definitive seller offer that follows the buyer's LOI or ICPO. It contains the full technical specification, guaranteed values with tolerance, price mechanism, Incoterms 2020 delivery point, quantity and monthly lifting schedule, MT700 LC or SBLC payment terms, inspection regime and step-by-step procedure calendar in banking days.
This template is the format used for oil products, coal, petcoke, LNG, metals and agri commodities. Once countersigned by the buyer, it triggers SPA drafting and the buyer's LC issuance workflow.
The DOCX is fully editable so you can drop in your specification annex; the PDF is a print-ready sample.
Numerical Example: FCO Utilization
Typical application of the FCO in a standard bulk commodity transaction. Use TradeDox Pro for auto-drafting LC-compatible clauses.
What's inside
- Seller's binding offer: countersigned FCO = deal on the table.
- Locks the price mechanism (fixed, floating, index-linked).
- Sets the procedure calendar (POF, SPA, LC, first shipment).
- References inspection regime (SGS / Intertek / SAYBOLT).
Document preview
Frequently asked questions
Where can I download a free FCO template?
This page provides a free Full Corporate Offer template in Word (DOCX) and PDF format. Sign in to download the editable DOCX; the PDF preview is public.
Is a Full Corporate Offer legally binding?
Yes once countersigned by the buyer. Unlike the SCO (Soft Corporate Offer), the FCO commits the seller to the exact commercial terms subject only to procedures being executed on schedule.
What clauses does an FCO include?
Product and full specification, guaranteed values with tolerance, price and Incoterms, monthly lifting schedule, payment instrument, procedure calendar in banking days, inspection regime and validity window.
FCO vs SCO | what's the difference?
SCO (Soft Corporate Offer) is non-binding and indicative; FCO is binding once countersigned. Sellers usually issue an SCO first, and only progress to FCO after receiving an LOI or ICPO from the buyer.
Does the FCO need an inspection clause?
Yes for physical commodities. Standard practice names an independent inspector (SGS, Intertek, SAYBOLT) at load and/or discharge, with cost allocation and dispute resolution mechanics.