Buyer Process
Letter of Intent (LOI) vs Irrevocable Corporate Purchase Order (ICPO): Buyer's Guide
PetroIntermediation TeamBuyer Process Guides
An LOI signals interest. An ICPO commits the buyer to purchase, conditional on the seller's FCO matching the ICPO terms. Most legitimate sellers will only respond to an ICPO accompanied by Proof of Funds.
What a real ICPO contains
- Buyer corporate details + registration
- Product, volume, delivery port, Incoterm
- Target price or formula
- Payment instrument
- POF (RWA bank statement or BCL)
- Authorized signatory + seal
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