Free trade templates. Written to stop fraud before you pay.
An ICPO, verification clauses for your SPA, and the instructions to give your bank for a letter of credit. Each one builds in the checks that make a fake seller show their hand.
1. ICPO (Irrevocable Corporate Purchase Order)
The buyer's letter of intent, with payment only by LC at sight under UCP 600, no upfront fees, verification of the seller before the LC, and inspection by an inspector the buyer appoints. States clearly that an ICPO is not proof of funds.
2. SPA verification clauses
Nine clauses to add to a Sales and Purchase Agreement: counterparty verification, a Verification Report as a condition before the LC, inspection access, authentic documents, payment only against proof, the seller's own bank account, sanctions and termination for misrepresentation.
3. LC application instructions
What to give your bank when you apply for a letter of credit: the real rules (UCP 600), the documents to require, independent inspection, our Verification Report as a required document, and the conditions that make a fake bill of lading a discrepancy.
More: Letter of Authority and copy-ready clauses › · Check a Verification Report › · Check your deal free ›
Templates provided free by Vanguard Verify (verify.vtcgw.com). Not legal advice: adapt them to your contract and the law that applies to it.