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    Irrevocable Corporate Purchase Order (ICPO)

    Uploaded by

    Ronnie Adnalcama
    This document is an irrevocable corporate purchase order (ICPO) from a buyer to a seller for 1.5 million metric tons of used railway rails at a target price of $270 per metric ton. It specifies the rail sizes, packaging, delivery sizes, mode of payment via SBLC and wire transfer, destination port, and a 2% performance bond. A 10-step procedure is outlined for signing contracts, exchanging payment instruments like SBLCs, shipments within 30-45 days, and allowing potential visits to the loading port. Buyer and seller banking details are also provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd

    Irrevocable Corporate Purchase Order (ICPO)

    Uploaded by

    Ronnie Adnalcama
    3K views3 pages
    This document is an irrevocable corporate purchase order (ICPO) from a buyer to a seller for 1.5 million metric tons of used railway rails at a target price of $270 per metric ton. It specifies the rail sizes, packaging, delivery sizes, mode of payment via SBLC and wire transfer, destination port, and a 2% performance bond. A 10-step procedure is outlined for signing contracts, exchanging payment instruments like SBLCs, shipments within 30-45 days, and allowing potential visits to the loading port. Buyer and seller banking details are also provided.

    Original Description:

    ICPO

    Original Title

    sample ICPO

    Copyright

    © © All Rights Reserved

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    This document is an irrevocable corporate purchase order (ICPO) from a buyer to a seller for 1.5 million metric tons of used railway rails at a target price of $270 per metric ton. It specifies the rail sizes, packaging, delivery sizes, mode of payment via SBLC and wire transfer, destination port, and a 2% performance bond. A 10-step procedure is outlined for signing contracts, exchanging payment instruments like SBLCs, shipments within 30-45 days, and allowing potential visits to the loading port. Buyer and seller banking details are also provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
    3K views3 pages

    Irrevocable Corporate Purchase Order (ICPO)

    Uploaded by

    Ronnie Adnalcama
    This document is an irrevocable corporate purchase order (ICPO) from a buyer to a seller for 1.5 million metric tons of used railway rails at a target price of $270 per metric ton. It specifies the rail sizes, packaging, delivery sizes, mode of payment via SBLC and wire transfer, destination port, and a 2% performance bond. A 10-step procedure is outlined for signing contracts, exchanging payment instruments like SBLCs, shipments within 30-45 days, and allowing potential visits to the loading port. Buyer and seller banking details are also provided.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Download as pdf or txt
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    The key takeaways are that this is an irrevocable corporate purchase order for used rails between a buyer and seller. It specifies the commodity, quantity, specifications, packaging, delivery size, payment terms, price and procedures for completing the purchase.

    The commodity being purchased is used rails of types R50 and R65.

    The specifications for the rails are: R50 - 51.67 kg/m and R65 - 64.72 kg/m, cut to a maximum length of 1.5 meters.

    Date: 18.11.

    2008

    Irrevocable Corporate Purchase Order (ICPO)

    To: _____________ (SELLER)

    Dear Sirs,

    We, __________________ hereby state and represent that it


    ________________________ is our corporate intention to purchase the commodity
    Used Rails R50 R65 in the quantity and for the price as specified in the Terms and
    Conditions stated below. This representation is made with full corporate authority and
    responsibility.

    COMMODITY: Used Rails R50 R65


    ORIGIN: Sellers Option
    SPECIFICATIONS: R50–51.67 kg/m
    R65–64.72 kg/m
    Cut to length of 1.5 meters max
    TOTAL/CONTRACT QUANTITY: 1,500,000MT (plus/minus 10%)
    Confirmed Quantity
    PACKAGING: Bulk
    DELIVERY SIZE: 30,000MT (plus/minus 10%) Confirm
    Size of Ship Required
    MODE OF PAYMENT:
    SBLC + T/T AT DESTINATION PORT
    BY TOP PRIME BANK.

    TARGET PRICE: US$ 270per MT


    DESTINATION PORT: CIF ASWP

    PERFORMANCE BOND: 2% L/C value


    PROCEDURES:

    1. Buyer issues Letter of Intent (LOI) or irrevocable Corporate Purchase Order


    (ICPO) with banking details.

    2. Seller issue’s Full Corporate Offer (FCO)

    3. Buyer signs the Full Corporate Offer as token of acceptance and send it bank to the
    Seller.

    4. Buyer sends LOI and BCL or MT799 that he is capable to purchase his requirement
    and that his bank is ready to prepare the SBLC/BG for the agreed monthly shipments
    value.

    5. Seller’s Bank sends POP (Export License, Certificate of Origin and SGS certificate
    for first shipment of 30,000 MT.) to Buyer’s Bank

    6. Seller issue’s draft contract to buyer for negotiations.

    7. Buyer and Seller sign the final contract after making amendments, if any, also
    possible to sign and sealed by the legal court in __________.

    8. Fax, E-mail or courier exchanges for hard copy of contract

    9. Buyer’s Bank sends non operative SBLC/BG for the value of monthly shipments,
    payable against shipping documents at unloading port.

    10. Sellers bank will verify send 2% PB.

    11. Buyer’s bank will confirm the payment instrument will become operative.

    12. If needed visit is allowed buyer at the Loading port at his own expense.

    13. Seller prepares shipment within 30–45 days.

    BUYER’S INFORMATION
    COMPANY NAME:
    ADDRESS:

    CITY/ZIP:
    COUNTRY:

    LEGAL REPRESENTATIVE
    NAME:
    TITLE:
    BUYER’S BANK COORDINATES
    BANK NAME:
    ADDRESS:

    CITY/ZIP:
    COUNTRY:
    BANK TEL:
    BANK FAX:
    ACCOUNT NAME/NUMBER:
    BANK SWIFT CODE:
    BANK OFFICER’S NAME:
    TITLE:
    DIRECT TEL/FAX:

    CONFIRMING BANK COORDINTATES (required if Buyer’s Bank is not a


    World Prime Bank)
    BANK NAME:
    BANK CODE:
    BIC:

    SIGNATURE:

    PRINTED NAME:

    TITLE:

    DATE:

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