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

Questioning and interview schedule, Questioning and Interview Schedule: ...

Questioning and Interview Schedule: Meaning: The questioning is  a technique of data collection where  the sources  of data  is  the subject himself/herself.  Here, the data a

Power, Power The capacity of power is to influence in the behavior of o...

Power The capacity of power is to influence in the behavior of other people so they do things that they would not otherwise do. The most important component of power is depende

What do you understand by the term conflict, QUESTION 1 A team is a sma...

QUESTION 1 A team is a small number of people with complementary skills who are committed to a common purpose, performance goals, and approach for which they hold themselves mu

Information systems implementation, Information Systems Implementation ...

Information Systems Implementation 1. Will implementing SAP R/3 across the entire PCD division provide the division with a competitive advantage?  Justify your answer carefull

Explanation of public relations, Problem Explain the key tools availabl...

Problem Explain the key tools available to carry out the public relations function. Explanation of Public relations Developing Media Relations Launching Media Tours

Indexing and abstracting services, Indexing and Abstracting Services: ...

Indexing and Abstracting Services: While the compilation and publication of an indexing and abstracting service in itself is an information service, many publishers of these s

Literature search services , Literature Search Services: Literature se...

Literature Search Services: Literature search service is considered as an extension of reference service. An important aspect of literature search service is ascertaining the

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