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

Gestalt alphabetisation, Gestalt Alphabetisation   Ranganathan was foll...

Gestalt Alphabetisation   Ranganathan was following the Gestalt Aplhabetisation to a severe degree in the earlier editions of CCC up to the 3rd edition published in 1951. In th

Approach of readers for documents - library classification, Approach of Rea...

Approach of Readers for Documents: As stated earlier, documents can be arranged in libraries on the basis of the colour of the binding, the size, the language, the year of pub

Human resources development (hrd), HUMAN RESOURCES DEVELOPMENT (HRD) T...

HUMAN RESOURCES DEVELOPMENT (HRD) The effective participation and quality performance of human•beings in the various activities of an organisation result in an HRD process whi

Quality improvement, Q uality improvement Quality improvement can be d...

Q uality improvement Quality improvement can be defined as the organised creation of the beneficial change along with the attainment of unprecedented levels of the performance

Classification terminology - library management, SOURCES OF CLASSIFICATION ...

SOURCES OF CLASSIFICATION TERMINOLOGY: The following are sources for classification terminology : a) ALA Glossary of Library Terms; 1956 b) BLISS (H E), Bibliographic Cl

Relationship between front desk and reservations department, Question 1: ...

Question 1: (i) Explain the relationship between the Front Desk and the Reservations Department. (ii) Enumerate the various steps in the reservations process and explai

Organisational framework for project management, Organisational Framework f...

Organisational Framework for Project Management A project based organisation is a composition that facilitates the coordination and implementation of project behaviours. Projec

Institutional membership and deposit system, Institutional Membership: ...

Institutional Membership: Institutional membership is another potential resource in collecting documents. The library may enlist itself as member of learned societies and inst

Transform the organisational resources, Question "Schools are open soc...

Question "Schools are open social systems with five important elements which are used to transform the organisational resources into educational outcomes" (a) Describe the

Disadvantages of ordering procedure, Disadvantages: When subscribed th...

Disadvantages: When subscribed through an agent, it will not be possible to correspond with the publishers regarding the missing issues of periodicals in the absence of detail

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