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

Explain the main spheres of sponsorship in pr, Problem 1 (a) Illustrate...

Problem 1 (a) Illustrate on the 3 main stages of the development of PR in the U.S? (b) Describe the main transformations that PR has undergone since its inception? Pro

Explain communities of practice, Question 1 Discuss the various tools used...

Question 1 Discuss the various tools used for understanding data Question 2 Write short notes on The Enterprise Project Management Model Question 3 Explain communities o

Analyze the national and regional planning process, QUESTION Previously...

QUESTION Previously, there was much emphasis on preparation of the end state ‘master plan', which was assumed to be sufficient for guiding and controlling future development pa

Community, C ommunity The community element requires attention, organi...

C ommunity The community element requires attention, organisation and also nurturing. The members of the community might choose to join together to help each other and share t

Impact of electronic media, Problem 1: Explain and comment on the diffe...

Problem 1: Explain and comment on the different stages of development that have produced our present day mass media. Problem 2: The impact of electronic media is strong

Catalogue code - planning and organisation, Catalogue Code: As with cl...

Catalogue Code: As with classification schemes, there are different catalogue codes available for use in libraries. Two of them are already known to you as they are prescribed

Write a short note on dagmar, Question 1 Explain any five components of fa...

Question 1 Explain any five components of fashion retail industry Question 2 Explain any five components of promotion mix Question 3 Explain scope and functions of

Developmental stages of customer acquisition and management, Question: ...

Question: CEOs admit that more money, time, and organisational changes will be required to make the needed transition from product or channel driven structures and tactics to a

Case let, If you were one of the other foremen, what could you do to make R...

If you were one of the other foremen, what could you do to make Rajinder’s transition easier?

System of quality cost reporting, QUESTION 1 When one considers an ordi...

QUESTION 1 When one considers an ordinary organizational culture alongside a Total Quality Management organizational culture, some clear differences can be identified Based

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