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

Discuss the sq3r technique of reading, Question 1 What do you mean by b...

Question 1 What do you mean by barriers of communication? Explain different types of barriers to communication 2 Explain the different types of listening 3 Discuss the SQ

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

Objectives of conference centre, Question 1: You have been hired as a c...

Question 1: You have been hired as a consultant for an event venue, and your task consist of advising the management on the requirements of the conference area which they plan

Creating values for cop, C reating multiple types of value The organis...

C reating multiple types of value The organisations which have taken the steps to cultivate CoP have found that the communities are exceptional among the organisational struct

Engineering Risk Management, Total Marks – 40 (Note: The information for t...

Total Marks – 40 (Note: The information for this question is based on the material contained in Hopkins, Andrew (1999) Managing major hazards: the lessons of the Moura Mine Disast

Write a short note on gantt chart, QUESTION 1 a) Outline the roles and ...

QUESTION 1 a) Outline the roles and authorities of a project manager b) Write a short note on Gantt Chart c) What are the 3 common types of budgets and write a short para

Case study, Case Study:  In a case study the survey  is based on one or m...

Case Study:  In a case study the survey  is based on one or more samples. Study on the  respondent(s) can be  investigated in  depth, which  is not possible with  large number of

Organizational behavior, what type of errors would you be prone to make whi...

what type of errors would you be prone to make while making these judgement towards goofing employees?

Guidelines for conducting a competitive negotiation , Guidelines for conduc...

Guidelines for conducting a competitive negotiation  The most important rule in conducting a complex negotiation is that you should have done the planning for it and you should

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