Enquiry: Enquiry letters are typically issued by buyers to prospective sellers, outlining commodity requirements, quantity, quality parameters, and timing (short or long-term plan).

SCO: A Soft Corporate Offer (SCO) is a non-binding proposal that a seller submits to a potential buyer indicating the basic terms and conditions under which they are willing to enter into a business transaction. This document outlines key points such as the price, quantity, delivery terms, payment terms, and other essential details of the proposed deal. The purpose of an SCO is to start negotiations and provide a framework for further discussions between the parties involved. It is not a formal contract but rather a preliminary step towards reaching a formal agreement. In complex business transactions, an SCO helps both parties understand each other’s positions and assess the feasibility of moving forward with the deal.

A) Name of Commodity
B) Quantity
C) Discharge Port
D) Type of Shipment (CIF or FOB)
E) Price
F) Origin
G) Type of Payment Accepted
H) Procedure to Purchase the Product, Etc.

ICPO: An Irrevocable Corporate Purchase Order (ICPO) is a document issued by a buyer to a seller, indicating the buyer’s intention to purchase a specific quantity of goods or services at a specified price. The ICPO is considered irrevocable because it signifies a firm commitment by the buyer to complete the transaction according to the terms outlined in the document.

By issuing an ICPO, the buyer is demonstrating a serious interest in entering into a business agreement with the seller. This document may also contain details such as delivery schedules, payment terms, and other important conditions that govern the purchase. Sellers often require an ICPO from potential buyers as a way to ensure that the transaction is genuine and that the buyer is financially capable of fulfilling the order.

RWA: A Ready, Willing, and Able letter, often referred to as an RWA letter, is a document issued by a buyer to a seller to confirm that the buyer is ready, willing, and able to complete a transaction. This letter serves as a formal declaration of the buyer’s intentions and financial capability to carry out the terms and conditions of a particular business deal.

In the context of international trade, an RWA letter assures the seller that the buyer has the necessary funds or resources available to fulfill their obligations under a contract. It provides the seller with the confidence that the buyer is serious about the transaction and can proceed with confidence that the buyer will not back out due to financial uncertainties.

RWA letters are commonly used in various industries, such as commodities trading, real estate, and project financing, to demonstrate the buyer’s commitment and ability to execute a deal. These letters are legally binding documents that provide assurance to both parties involved in a transaction.

SPA: A Sales and Purchase Agreement is a legal contract between a buyer and seller outlining the terms and conditions of a sale transaction. This agreement typically includes details such as the purchase price, payment terms, delivery date, and any warranties or guarantees provided by the seller. It is important for both parties to carefully review and negotiate the terms of the agreement to ensure a clear understanding of their respective rights and obligations. Once both parties have signed the agreement, it becomes legally binding and enforceable.