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

Perfect binding - library bindings, Perfect binding: The need to find ...

Perfect binding: The need to find a less expensive process for binding paperbacks led to the development of the 'perfect binding' - Considered as the most imperfect. This subs

What is 360 degree feedback?, QUESTION 1 (a) Elucidate the steps involv...

QUESTION 1 (a) Elucidate the steps involved in the Human Resource Planning Process (b) Give four major reasons explaining the importance of Human Resource Planning in organi

Tangible and intangible value, Tangible and Intangible Value The value ...

Tangible and Intangible Value The value which communities create includes the tangible results like the standard manual, the improved skills or the reduced costs through faster

Response rate, Response Rate This is the percentage of responses genera...

Response Rate This is the percentage of responses generated through a direct marketing campaign.

Managerial economics, why is it important for managers to understand macro ...

why is it important for managers to understand macro economics

History of catalogue codes - library catalogue code, HISTORY OF CATALOGUE C...

HISTORY OF CATALOGUE CODES : The 19th century marks the beginning of code making. Since it is not easy to make a complete survey, we will introduce you to a select number of c

Human resource development-need and purpose, Need and Purpose The per...

Need and Purpose The personnel of an organisation play the most vital role by converting all the other  resources into tangible products and services.. Therefore attention to

Quality control tools, Q uality control tools Most of the quality cont...

Q uality control tools Most of the quality control tools are usually available to the project team. The Quality control methods are ways of checking. It may involve the applic

Globe, Globe: The difference between a map and a globe is one of form...

Globe: The difference between a map and a globe is one of form. A map is any geographic image of the earth drawn to scale on a flat surface whereas a globe is a spherical rep

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