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

Technical and operational performance of contracts, M onitoring  and  Co...

M onitoring  and  Controlling  Technical  and  Operational  Performance of Contracts (Contractors) Monitoring and controlling of a contract being executed by a contractor sho

Referral centres, Referral Centres: A referral centre is some sort of ...

Referral Centres: A referral centre is some sort of "information desk" for the scientific and technical community which does not provide enquirers directly with the informatio

Selection of potential suppliers , Selection of potential suppliers  Th...

Selection of potential suppliers  This is an important function of the purchase department. If the material under reference is a standard item covered by company standards, the

Connecting professional development and corporate strategy, C onnecting pr...

C onnecting professional development and corporate strategy The CoP builds value by connecting the personal development and also the professional identities of the practitione

Public catalogue -circulation area in library building, Public Catalogue  ...

Public Catalogue  -Circulation Area in library building in library management Public catalogue is the key to the document collection in a library and frequently used by the re

Organizational behaviour, A large unit manufacturing electrical goods which...

A large unit manufacturing electrical goods which has been known for its liberal personnel policies and fringe benefits is facing the problem of low productivity and high absenteei

Characteristics of research tools, CHARACTERISTICS OF RESEARCH TOOLS: ...

CHARACTERISTICS OF RESEARCH TOOLS: An ideal measuring instrument is one which results  in measures that are relevant, accurate objective, sensitive and  efficient. Measures wh

Shelf register and shelf list - library management, Shelf Register/Shelf Li...

Shelf Register/Shelf List: Shelf register or shelf list is an important record of books; which shows the position of any book on the shelves. In order to control the movement

Library catalogue and the five laws of library science , LIBRARY CATALOGUE ...

LIBRARY CATALOGUE AND THE FIVE LAWS OF LIBRARY SCIENCE The Five Laws. of Library Science are a set of basic guiding principles for designing and operating a library or a libr

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