Contracts & documentsicpo
ICPO
Irrevocable Corporate Purchase Order — a buyer-side document stating intent to purchase a cargo of oil.
An ICPO (Irrevocable Corporate Purchase Order) is a buyer-side document in the pre-SPA phase of a physical oil trade. It states the buyer's intent to purchase a specific product, volume, delivery basis, and payment terms.
In legitimate procurement, an ICPO is one page, matches the seller's SCO (Soft Corporate Offer), and is followed by an NCND and the SPA. In scam circles, ICPOs are often paired with fake LOIs (Letter of Intent) and Dutch-style procedures that demand bank-comfort letters before any real product is confirmed — a classic paper-chase pattern.
OilFlow Network generates ICPOs from accepted term sheets automatically, always labelled DRAFT — FOR REVIEW BY INDEPENDENT LEGAL COUNSEL.
See also