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HomeTemplatesHow to Write a Irrevocable Corporate Purchase Order (ICPO)

How to Write a Irrevocable Corporate Purchase Order (ICPO)

Follow these steps to draft a Irrevocable Corporate Purchase Order (ICPO) that survives counterparty review, bank scrutiny and, if needed, ICC arbitration. Grab the free Irrevocable Corporate Purchase Order (ICPO) template at the end.

Step-by-step

  1. 1. Header & irrevocability
    Title the document ICPO and state that it is issued 'irrevocable, unconditional and full corporate responsibility'.
  2. 2. Buyer & end user
    Include the end user or end destination if different from the buyer.
  3. 3. Product, quantity, delivery
    As per LOI: commodity, grade, tonnage, discharge port, Incoterms 2020.
  4. 4. Payment & bank block
    MT700 LC at sight, top-50 bank. Include issuing bank name, SWIFT and officer for soft probe.
  5. 5. Procedure
    State the procedure the buyer accepts: seller issues FCO -> buyer/seller sign SPA -> LC opens within X banking days.
  6. 6. Documents required
    Passport copy of signatory, business licence, tax registration, POF or RWA if requested.

Common pitfalls to avoid

  • Leaving placeholder text like [ ] or {seller name} in the executed copy.
  • Missing signature date, or signing outside the validity window quoted on the document.
  • Referencing Incoterms without the year - always cite 'Incoterms 2020'.
  • Omitting the arbitration seat and governing law - defaults vary by country.
Free template
Free ICPO Template (Irrevocable Corporate Purchase Order)
Free ICPO template in Word and PDF. Buyer-signed Irrevocable Corporate Purchase Order draft for oil, coal, metals and other commodity trades. Ready to edit.
Get the template

FAQ

How is ICPO different from LOI?
ICPO is stronger - it says the buyer will complete the trade on the stated terms. Sellers often demand ICPO before releasing an FCO with confidential price.
Does 'irrevocable' make the ICPO a contract?
No. It signals commitment, but the binding contract is still the SPA.

Other how-to guides

How to Write a Sales & Purchase Agreement (SPA)How to Write a Letter of Intent (LOI)How to Write a Full Corporate Offer (FCO)How to Write a Soft Corporate Offer (SCO)How to Write a Non-Disclosure Agreement (NDA)How to Write a NCNDA (Non-Circumvention, Non-Disclosure)How to Write a IMFPA (Irrevocable Master Fee Protection)How to Write a NCNDA + IMFPA (Combined)