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

What is strategic management, QUESTION a) What is Strategic Management?...

QUESTION a) What is Strategic Management? b) With the help of a diagram describe the main elements of strategic management process c) Why strategy implementation often is

Technical section -staff activity area of library building, Technical Secti...

Technical Section -Staff Activity Area of library building in library management As mentioned earlier, cataloguing, and classification are the  principal technical activities

Discuss codes of ethics established by the wto, Question 1: Mention and...

Question 1: Mention and discuss three important codes of ethics established by the World Tourism Organisation regarding tourism development with respect to the facilities pr

Describe the occurrence of quantization error, Question 1 a) List the ...

Question 1 a) List the layers of the OSI model and briefly explain the function of each layer. b) List the three key elements of a protocol. Give a brief explanation of ea

Role of the mission statement, QUESTION 1 The value chain is an importa...

QUESTION 1 The value chain is an important tool in strategic management. For instance, it can be used by a firm to improve its cost competitiveness. Discuss the options availab

Information may replace inventory., Explain what you understand by this sta...

Explain what you understand by this statement in the context of strategic inventory management.

Miscellaneous supplies and equipment , Miscellaneous Supplies and Equipment...

Miscellaneous Supplies and Equipment -libraray equipment-library management Besides the furniture and equipment enumerated above, a number of items useful for library operatio

Interval measurement - levels of measurement, Interval Measurement: It  i...

Interval Measurement: It  is a  scale based on equal units of measurement indicating how much of  a given attribute is present  in the subject. It exhibits equal differences  ia

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