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

Translation service, Translation Service:   One of the constraints in t...

Translation Service:   One of the constraints in the flow of information is the language barrier. About half of world's literature is published in languages other than English

Agency method - , Agency Method: The jobs included in the case of the ...

Agency Method: The jobs included in the case of the agency method can be listed as follows: Sending list of periodicals asking for pro-forma invoice from the agent Scrutinisin

Inputs to quality planning process, I nputs to quality planning process ...

I nputs to quality planning process For  creating  an appropriate quality plan,  it  is very  important  to  provide proper inputs to the quality planning process. The various

Documentation and information centres and databases , DOCUMENTATION AND INF...

DOCUMENTATION AND INFORMATION CENTRES AND DATABASES:   Traditionally, libraries have been collecting various kinds of publications and holding them in readiness for use by scho

What are planktons, Question 1: (a) What is the chemical composition of...

Question 1: (a) What is the chemical composition of water? (b) Name the 3 states of matter in which water can exist. (c) Explain, with the help of diagrams, the molecular str

Jit component in an organization''s tqm program, QUESTION a) ISO 9001:2...

QUESTION a) ISO 9001:2008 series embraces eight quality management principles. By using relevant examples in the business context, discuss the potential benefits an organizatio

Functions of documentation and information centres, FUNCTIONS OF DOCUMENTA...

FUNCTIONS OF DOCUMENTATION AND  INFORMATION CENTRES: In general, a documentation or an, information centre brings to the attention of specialist users the current as well as r

Information may replace inventory., Explain what you understand by this sta...

Explain what you understand by this statement in the context of strategic inventory management.

Reasons for mergers and acquisitons, There are numerous reasons for a compa...

There are numerous reasons for a company to peruse M and A. Some of them are listed below: The M and A are undertaken to achieve specific financial, business and strategic

Define unemployment, QUESTION 1 According to Archie Caroll, explain the...

QUESTION 1 According to Archie Caroll, explain the four levels of corporate social responsibility. How far is the model relevant to the Mauritian context? Use appropriate examp

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