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

International marketing, define international marketing and furnish its fea...

define international marketing and furnish its features

Mergers, M ergers Merger happens when two companies, mostly of the sam...

M ergers Merger happens when two companies, mostly of the same size, agree to go forward as a single new company in the best interest of both. The shareholders of the involved

Reference and information access tools, REFERENCE AND INFORMATION  ACCESS ...

REFERENCE AND INFORMATION  ACCESS TOOLS: Libraries have always been engaged in providing services to their users. Maximum utilization of resources is the principle underlying

What is change, QUESTION 1 (a) What is change? (b) Describe carefull...

QUESTION 1 (a) What is change? (b) Describe carefully the driving forces which can contribute to successful change programs QUESTION 2 Using a concrete example of an

Enhance the regionalization of solid waste facilities, Q. Will the use of F...

Q. Will the use of FCA promote or enhance the regionalization of solid waste facilities? Ans. No. The utilization of an FCA approach will not, in and of itself, concluded

Rajinder transition, If you were one of the other foremen, what could you d...

If you were one of the other foremen, what could you do to make Rajinder’s transition easier?

User interface - value-added information services, The User Interface  ...

The User Interface  User interfaces are mechanisms built into information systems and services to enable the users to utilise these services in an effective manner. The interf

Services and products of documentation - organisation , Services and Produc...

Services and Products of Documentation and Information Centres: All functions of documentation and information centres are performed with the objective of providing informatio

Forecasting, Forecasting Problem Discussion Questions 1. Develop a fo...

Forecasting Problem Discussion Questions 1. Develop a forecasting model, justifying its selection over other techniques, and project attendance through 2007. 2. What revenue

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