Purchase order/contract, Other Management

Assignment Help:

Purchase Order/Contract 

A purchase order/contract is issued to the supplier/contractor. The offer once accepted by the supplier/contractor becomes a legal contract by which the supply must supply the goods as per the terms of contract. The purchase order covers all the essential data indicated on purchase request, RFQ, quotation and subsequent updated points, and finalised during negotiations. Many companies have pre-printed general conditions of contract, which is enclosed to purchase order. 

Even  in the case of contracts, the contractor gets an offer covering the points quoted above, along with general conditions of contract and the statutory guidelines to be followed at site during execution. 

The copies of purchase order/contract are sent to finance, inward goods and the project manager after it is approved. 

A purchase order/contract offered by the purchaser needs to be accepted by the supplier/contractor through an acknowledgement, to mature into a legally binding agreement. 

Although purchase order for imported material/equipment covers all the parameters listed above, it will have certain unique parameters as it is an overseas transaction.  


Related Discussions:- Purchase order/contract

Full life cycle framework in it governance, The full lifecycle framework ...

The full lifecycle framework The objective of this section is to introduce the full lifecycle approach proposed by Berghout et al. (2002). This framework  deals  in an effectiv

Operations strategy, describe the impact of operations strategy at differen...

describe the impact of operations strategy at different levels within the organization.

List 5 factors affecting productivity, QUESTION a) List 5 factors affec...

QUESTION a) List 5 factors affecting productivity b) List 3 factors affecting productivity which are controllable at company's or project level and 2 factors affecting produ

Microform reading room collection and production units , Microform reading ...

Microform reading room, collection and production Units in Reader Activity Area of library building -library management These days, more and more use being made of microforms-

Explain the different steps of the proven path, QUESTION 1 The Proven P...

QUESTION 1 The Proven Path consists of a number of discrete steps. Explain the different steps of the proven path. QUESTION 2 One major step in getting organized is to

Flexibility in contracts, Flexibility in contracts In the "1? and "2? m...

Flexibility in contracts In the "1? and "2? modes, the single entity is the Lump Sum Turnkey Contract (LSTK), EPC contractor and the D-B contractor respectively. In both these

Specifications of library reinforced binding, Specifications of Library Rei...

Specifications of Library Reinforced Binding: End papers:  Endpapers are to be of good tough opaque paper of approved mild colour, with at least one plan white leaf betwee

Purpose and objectives of binding - library management, Purpose and Objecti...

Purpose and Objectives of Binding : Unlike private collection, books in libraries are to be used by successive groups-be it a public library or an academic library-and hence n

Claim, C l aims: Claims can be initiated by both parties involved. Claim...

C l aims: Claims can be initiated by both parties involved. Claims are settled through negotiation, adherence to contract terms, or a mutually agreed  adjustment  in  the  contr

Workers compensation and injury pensions, Question: Worker's compensati...

Question: Worker's compensation and injury pensions: (a) What were the problems encountered by injured workers prior to the Workmen's Compensation Act? (b) How has the

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd