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

Director of a service sector organization, You have just been appointed as ...

You have just been appointed as Public Relations Director of a service sector organization and first assignment is to make a crisis communication plan. The subsequent elements s

Describe corporate identity management, Question : (a) "A Strong corpo...

Question : (a) "A Strong corporate identity helps reinforce a company`s brand image and supports its marketing activities" i. Describe what you understand by corporate iden

Reference service - information behaviour, Reference Service:  Notwith...

Reference Service:  Notwithstanding library catalogues and various other aids available for exploiting the library resources, users would frequently need some personal assista

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

Case study, Rajender Kumar was a production worker at competent Motors Limi...

Rajender Kumar was a production worker at competent Motors Limited (CML) which made components and accessories for the automotive industry. He had worked at CML for almost seven ye

What are supply bills, Question 1 Corporate Banking represents the wide ra...

Question 1 Corporate Banking represents the wide range of banking and financial services provided to domestic and international operations of large local corporates and local oper

Health and research management, 1.  You will critically review 6 or more sc...

1.  You will critically review 6 or more scholarly articles that inform the reader about your topic. You should have: At least: Two articles that describe the overall issue or

Compare and contrast the fundamental and technical analysis, Question 1 ...

Question 1 Explain the characteristics of investment. Differentiate between investment and speculation. Question 2 What do you understand risk and measurement of ris

Mr. Vincet case study, 1.Critically analyze Mr. Vincent’s reasoning. 2. If ...

1.Critically analyze Mr. Vincent’s reasoning. 2. If you were the professor and you knew what was going through Vincent’s mind, what would you say to Vincent

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