How do I check a counterparty that uses ICPO in a deal?

The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against 8 sanctions lists plus PEP and OilFlow's first-party cluster corpus in seconds, or order the full 7-step dossier for $25, and confirm identity documents and banking details independently before you transact.

All terms

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.

Related: LOI, SCO, NCNDA, SPA.

Frequently asked

What does ICPO mean in oil and commodity trading?: Irrevocable Corporate Purchase Order — a buyer-side document stating intent to purchase a cargo of oil.
How do I check a counterparty that uses ICPO in a deal?: The term itself is not enough to clear or condemn a deal. What matters is the counterparty behind the pitch. Screen that name for free against 8 sanctions lists plus PEP and OilFlow's first-party cluster corpus in seconds, or order the full 7-step dossier for $25, and confirm identity documents and banking details independently before you transact.