UK Accounting Glossary
An offer to buy goods under specified terms and conditions; for example, for misuse.
IPCO is an abbreviation for an irrevocable corporate purchase order or irrevocable corporate purchase offer.
An ICPO (irrevocable corporate purchase order or irrevocable corporate purchase offer) is a document similar to a Letter of Indemnity – LOI (not to confused with Letter of Intent) which is used by companies to communicate their intent to enter into a transaction with a foreign-based (overseas) company and provides verification as to the purchasing terms, banking information, and company financials pertaining to the transaction.
An IPCO technically acts as like the final draft of a purchase order and is typically sent to the seller on company letterhead.
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This glossary post was last updated: 25th October 2019.