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

Features for the best physical form of library catalogue, FEATURES FOR THE ...

FEATURES FOR THE BEST PHYSICAL FORM OF LIBRARY CATALOGUE: Despite the widespread use of the computer for cataloguing, a great many catalogues in the conventional format, such

Home bindery vs commercial bindery, Home Bindery vs Commercial Bindery: ...

Home Bindery vs Commercial Bindery: The decision whether to send material to a commercial binder or to have a binder in the library is to be decided first. As binderies become

What does the term organisational culture mean, Question 1: (a) Discuss...

Question 1: (a) Discuss, with the use of examples, the situations when, and the reasons why, people accept change. (b) How can employees' attitude toward change be classifie

What are the basic components of inventory, Question: (a) What are the ...

Question: (a) What are the basic components of inventory? (b) Name the steps for finding the optimum inventory. (c) What are the assumptions for the Economic Order Quanti

Discuss why systems are vulnerable, Question 1 Explain the role of informa...

Question 1 Explain the role of information in decision making Question 2 Explain how businesses can gain competitive advantage from managing information Question 3 Expla

What is meant by organisational change, Question 1 Explain the importance ...

Question 1 Explain the importance of Organisational development to managers. Describe the characteristics of Organisational Development Question 2 What is meant by Organisati

Describe the different types of dynamic pricing models, Question 1: (a)...

Question 1: (a) Describe five main benefits of e-business to businesses, consumers, and society. (b) Using appropriate examples, describe the different types of dynamic pri

Objectivity and economy - characteristics of research tool, Objectivity: ...

Objectivity: Objectivity means freedom from bias. A test should yield a clear  score value for each performance, the score being independent of the personal judgment  of the

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

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

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