Free ICPO Template (Irrevocable Corporate Purchase Order)
A buyer-signed, irrevocable purchase order that triggers the seller's procedure release. Editable Word (DOCX) and PDF format used across every mainstream commodity desk.
An ICPO (Irrevocable Corporate Purchase Order) is the buyer's binding commitment: product, grade, quantity, unit-price ceiling, Incoterms point, payment instrument and issuing-bank coordinates. Once countersigned it releases the seller's Full Corporate Offer (FCO) and, in longer intermediary chains, the mandate's procedure release to the end seller.
Use this template as the format for oil products (D2, JP54, EN590), coal, petcoke, urea, sugar, LNG or metals purchases. It ships with the 'full corporate responsibility' language mandates expect and a banking-coordinates block for MT700 LC or SBLC MT760 issuance.
The DOCX is fully editable; the PDF is a print-ready reference sample.
What's inside
- Binding purchase order: triggers procedures release from the seller.
- Includes 'full corporate responsibility' language.
- Ties buyer to specific quantity, price ceiling and payment instrument.
- Standard trigger document used by mandates to reach the end seller.
Document preview
Frequently asked questions
Where can I download a free ICPO template?
This page hosts a free ICPO template in Word (DOCX) and PDF. Sign in to download the editable Word version; the PDF preview is open to all visitors.
Is an ICPO legally binding?
Yes. Unlike the LOI, an ICPO is a binding purchase order once issued with 'full corporate responsibility' language and countersigned. It commits the buyer to the specified quantity, price ceiling and payment instrument.
What information does an ICPO require?
Buyer legal identity, commodity and grade, quantity and tolerance, unit-price ceiling, Incoterms delivery point, payment instrument (MT700 LC or SBLC), issuing bank name, SWIFT/BIC and officer coordinates.
ICPO vs LOI — which do sellers want?
For fast-moving spot deals many sellers accept an LOI; for procedures release and mandate chains an ICPO is standard because it binds the buyer irrevocably. This template supports both intermediary and direct workflows.
Do I need a Proof of Funds with the ICPO?
Most sellers ask for POF or an RWA letter alongside the ICPO. POF confirms the buyer holds unencumbered funds; the RWA letter confirms the bank is Ready, Willing and Able to issue the payment instrument.