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

P chart, P Chart As against the      and R charts which deal with quan...

P Chart As against the      and R charts which deal with quantitative aspects, these charts deal with the attributes which are qualitative factors possessed by the data. An ex

Contract close-out, C ontract  close-out:   Contract  close-out  be...

C ontract  close-out:   Contract  close-out  begins  with  checking  for physical completion, i.e., whether all services have been performed and products delivered. Closeout

Flexibility in contracts, Flexibility in contracts In the "1? and "2? m...

Flexibility in contracts In the "1? and "2? modes, the single entity is the Lump Sum Turnkey Contract (LSTK), EPC contractor and the D-B contractor respectively. In both these

Discuss the functions of the executive housekeeper, Question 1: (i) Wh...

Question 1: (i) Why is it necessary for the rooms division staff to communicate effectively within the department, with other departments of the hotel and with the public? Sup

Define business ethics, Question 1 i) Discuss managing quality transform...

Question 1 i) Discuss managing quality transformation in organisation ii) Explain the concept of quality in manufacturing & services Question 2 Explain the different step

What are the e-hr strategies, Question 1: What are the e-HR strategies...

Question 1: What are the e-HR strategies and guidelines that organisations need to consider when adopting use of technology to attract talented employees and discuss in det

Discuss importance of using personal protective equipment, Question 1: ...

Question 1: Heat and noise are important factors for productive work inside the work premises. Describe, in details, how you would control these factors at the workplace to inc

Elaborate bio renewable resources, Question 1 The resources that can be...

Question 1 The resources that can be continuously replenished with the help of natural processes are referred to as renewable resources. Discuss renewable resources Ques

Standards for library binding - library management, Standards for library b...

Standards for library binding: The weigh of the stripped fabric shall not be less than 7.9 ounces per square yard. The total thread count including wrap and filling, shall not

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