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

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?

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

Efficient library management, Efficient library management: These-func...

Efficient library management: These-functions are carried out by any reasonably efficient library. The emphasis the definition is on the provision of information as a major fu

What are the benefits of cured composting, QUESTION 1 (a) In many part...

QUESTION 1 (a) In many parts of the world, health problems and diseases have been caused by discharging untreated or inadequately treated wastewater. Discuss comprehensively p

Technical section -staff activity area of library building, Technical Secti...

Technical Section -Staff Activity Area of library building in library management As mentioned earlier, cataloguing, and classification are the  principal technical activities

Reader activity area in library building-library management, Reader Activi...

Reader Activity Area  in library building-library management Reader Depending on the size and nature of the library, there may be one or more reading rooms. A reading room for

Explain aperture-priority automatic mode, Question 1: (a) Using appropr...

Question 1: (a) Using appropriate examples to support your answer, list five types of photography used. (b) Define the term "aperture" (c) Give two uses of an aperture (d

Sescribe the principles of bureaucratic management, Question 1: (a) Des...

Question 1: (a) Describe the five principles of bureaucratic management put forward by Max Weber. (b) Elaborate on the advantages and disadvantages of bureaucratic manageme

Historical sources - source of data, Historical Sources: Historical Da...

Historical Sources: Historical Data  are a combination of documentary and field sources. These consist of  documents and various historical sources  to which the historian him

Issues of periodicals and non-book material arrangement, Issues of Periodic...

Issues of Periodicals and Non-Book Material-Storing, Shelving and Arrangement: Most libraries have periodical collections, the current issues having to be display for browsing

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