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

Bill of materials , Bill of Materials  Bill of Materials (BOM) is an im...

Bill of Materials  Bill of Materials (BOM) is an important document for any project, production before launching or material requirement planning process.  The American Prod

Union catalogue, Union Catalogue   A library catalogue, we know, is a l...

Union Catalogue   A library catalogue, we know, is a list of all or some of the holdings of a library. If two or more libraries make out such a list we call it a Union Catalogu

Age of inventory - evolution of catalogue, Age of Inventory - evolution of ...

Age of Inventory - evolution of catalogue: Such simple lists were attempted in good numbers in the succeeding periods (900 A.D. - 1100 A.D.). Louis Pious (814-840 A.D.) issued

Cultivating communities of practice, C ultivating communities of practice ...

C ultivating communities of practice In an organisational life, the CoP has been readily accepted by people. It will flourish irrespective of whether the organisation recognis

Management - library management, Management : The magnitude of mainten...

Management : The magnitude of maintenance work, like all other work in the  library, depends on the size and complexity  of the library  and the quantum of operations. Decisio

State two reasons for establishing a marcom plan, Question: (a) Th...

Question: (a) There are different types of advertising strategies adopted by Organizations in order to increase their sales force. The strongest advertising strategies

Procedure of document selection - library administration , Procedure: ...

Procedure: The actual process  of document selection may be initiated in different ways. The acquisition staff take note of the desirable items and present them to the subject

Discuss the different policies and factors for rural tourism, QUESTION ...

QUESTION Rural tourism represents a merging of perhaps two of the most influential yet contradictory features of modern life. Not only are the forces of economic, social, cultu

Aacr 2- l c descriptive rules, AACR 2: Anglo-American cataloging rules...

AACR 2: Anglo-American cataloging rules/ Prepared by the American Library Association, the British Library, the Canadian Committee on Cataloguing, the Library Association, the

Types of observation, Types  of Observation: Types of observation rela...

Types  of Observation: Types of observation relate  to  the  observer-observed relationship. It has been described as "concealment and participant", "concealment and non- part

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