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

What is the importance of technology diffusion, Question 1 Write a short n...

Question 1 Write a short note on technology strategy. Describe in detail about the innovation management Question 2 What is the importance of technology diffusion? What are t

Discuss how you will formulate the treasury policy, Question 1 The NCDEX t...

Question 1 The NCDEX trading system provides a fully automated screen based trading for futures commodities on basis of nationwide online monitoring and surveillance mechanism. De

Advantages of information services, Advantages of information services: ...

Advantages of information services: There are a number of advantages in the value addition of information services. Taylor suggests three of them: •  Making choice easier, by

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

Macrowriting, Macrowriting This term discover issues in written documen...

Macrowriting This term discover issues in written documents that have to do with the document as a whole. Important macrowriting parts include the overall company logics there

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

What is pegged skirt, Question 1 Explain the steps in developing pattern ...

Question 1 Explain the steps in developing pattern for built-up neckline and cowl neckline along with  diagrams Question 2 What is pegged skirt? Explain the method of develo

Sensitivity and appropriateness, Sensitivity and Appropriateness: Sens...

Sensitivity and Appropriateness: Sensitivity  refers  to  the capability  to  detect  changes or differences when they to occur. Often, multimodel measurements  are made becau

Procurement management, Overview of Procurement Management   Let us star...

Overview of Procurement Management   Let us start our discussion with an overview of project procurement management. Procurement management is an important knowledge area in pro

Self-managed teams, In these teams the members themselves will not only per...

In these teams the members themselves will not only perform the work but also monitor, measure, and manage their performance.

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