LETTER OF INTENTION (LOI) For the Sale and Purchase of Cargo Date: [Insert Date] To: [Seller’s Name or Company] [Address] [Email / Fax] From: [Buyer’s Name or Company] [Address] [Email / Fax] Subject: Letter of Intention to Purchase [Type of Cargo – e.g., Diesel Fuel (D2), Crude Oil, LNG, Copper Cathode, etc.] Dear [Seller’s Name], …
ICPO in trade stands for Irrevocable Corporate Purchase Order. It’s a formal document issued by a buyer to a seller—commonly used in international trade, especially for commodities (oil, metals, sugar, grains, etc.). What an ICPO does Shows the buyer’s serious and legally binding intent to purchase. Confirms the buyer is ready, willing, and able (RWA) …
CIF (Cost, Insurance, and Freight) is another Incoterm, and it’s a step further than FOB because the seller takes on more responsibility. It’s also only for sea or inland waterway transport. What CIF means The seller must: Deliver the goods onto the ship at the named port of shipment. Pay for transport (freight) to the …