What is ICPO?
Post 1 of 19
Guys I need help..again..
I have a contact who is interested in my products and after negotation he has agreed to buy from me.
He has prepared an ICPO (Irrevocable Corporate Purchase). It's got his company's letter head, company's stamp, etc. He has, also,scanned it and sent it to me for me to print and sign and scan and send it back to him.
What is ICPO? Should I sign and send it back to him? If he turns out to be a scammer (God forbids), would he have something to "use against me in court"?
Thanks guys.
I have a contact who is interested in my products and after negotation he has agreed to buy from me.
He has prepared an ICPO (Irrevocable Corporate Purchase). It's got his company's letter head, company's stamp, etc. He has, also,scanned it and sent it to me for me to print and sign and scan and send it back to him.
What is ICPO? Should I sign and send it back to him? If he turns out to be a scammer (God forbids), would he have something to "use against me in court"?
Thanks guys.
13 May 2006 18:34
Post 2 of 19
Replying to [MioBoy]:The goods are food and beverages. And the quantity is large.
Well, ok it was not an advert in alibaba.com but rather in a European B2B where one has to be a subscribed member in order to respond to a buyer or a seller. So, I suppose he is a subscribed member.
I have given him the terms and conditions of sales (which include 100% T/T upfront) and he seems to agree.
So, what is ICPO, then? Anyone, please? Thanks
Well, ok it was not an advert in alibaba.com but rather in a European B2B where one has to be a subscribed member in order to respond to a buyer or a seller. So, I suppose he is a subscribed member.
I have given him the terms and conditions of sales (which include 100% T/T upfront) and he seems to agree.
So, what is ICPO, then? Anyone, please? Thanks
13 May 2006 20:41
Post 3 of 19
Replying to [Honest Trader]: You do not have to sign the ICPO and return it. However, Usually when the buyer submits an ICPO, thy expect a FCO (Full Corporate Offer) from the seller. If the buyer has agreed to your terms, that means they are trying to formalize the transaction and put it in writing.
I personally, do not think ICPO, FCO hold any legal value in the court of law.
I personally, do not think ICPO, FCO hold any legal value in the court of law.
13 May 2006 21:04
Post 4 of 19
Replying to [MioBoy]:Well, I didnt suggest an ICPO in the first place. He sent me one and then wanted me to scan, sign and send it back to him. In the ICPO the "Terms Of Payment" is 100% TT .. well that's what it says...unless ICPO is usually done using LC then that I'm not sure...In his ICPO there are two sets of numbers what look like registeration numbers of some sort...not sure...and the bank does exist in his country...well unless the bank, too, is invloved in scamming... ![[em4]](http://img.alibaba.com/images/eng/style/icon/emoticons_sad.gif)
14 May 2006 04:12
Post 5 of 19
Replying to [Honest Trader]:
He sent me one and then wanted me to scan, sign and send it back to him. In the ICPO the "Terms Of Payment" is 100% TT ..
Honest Trader,
If you sign, scan and email the document, the 'buyer' will have your signature. Next, for TT payment, you will have to send him your bank details including your ****.
Therefore, with your signature, he could have unauthorised access to your ****. I'd be very careful if I were you!!!!
He sent me one and then wanted me to scan, sign and send it back to him. In the ICPO the "Terms Of Payment" is 100% TT ..
Honest Trader,
If you sign, scan and email the document, the 'buyer' will have your signature. Next, for TT payment, you will have to send him your bank details including your ****.
Therefore, with your signature, he could have unauthorised access to your ****. I'd be very careful if I were you!!!!
14 May 2006 11:45
Post 6 of 19
Replying to [rchas]: wow...very informative, helpful and useful as well...thanks ever so much...
14 May 2006 20:41
Post 7 of 19
Replyingto [Honest Trader]: Please reply What is ICPO and what are the legal bidding between the party incase one try to scam other
16 May 2006 00:35
Post 9 of 19
Watch out for anyone who uses silly acronyms like these. They are unlikely to be real businessmen.
It is correct that people are sucked into giving their bank details by the promise of huge orders. Crooks thrive off other people's greed.
Ask him instead to ask his bank if they will accept a Bill of Exchange drawn on them by you for the full amount of the deliveries, to be lodged in escrow with your bank and released to you against presentation of simple proof of shipping.
This method is risk-free.
It is correct that people are sucked into giving their bank details by the promise of huge orders. Crooks thrive off other people's greed.
Ask him instead to ask his bank if they will accept a Bill of Exchange drawn on them by you for the full amount of the deliveries, to be lodged in escrow with your bank and released to you against presentation of simple proof of shipping.
This method is risk-free.
16 May 2006 03:50
Post 10 of 19
Replying to [Honest Trader]:
ICPO.: Irrevocable .Confirm . Purchase. Order. ?
ICPO.: Irrevocable .Confirm . Purchase. Order. ?
19 May 2006 03:58
Post 11 of 19
Replying to [Honest Trader]:
Dear Sir,
Do you mean ICUPO (IRREVOCABLE MASTER FEE PROTECTION AGREEMENT POLICY STATEMENT).
B.Regards
Dear Sir,
Do you mean ICUPO (IRREVOCABLE MASTER FEE PROTECTION AGREEMENT POLICY STATEMENT).
B.Regards
21 May 2006 11:07