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

Comparison of cobit 4.1 and cobit 5, Comparison of CobiT 4.1 and CobiT 5 ...

Comparison of CobiT 4.1 and CobiT 5 This review of CobiT 4.1and CobiT 5 does not include all possible elements of these two complex frameworks. Still, this review is exhaustive

Identification of potential risks, Question 1: Using as example an even...

Question 1: Using as example an event or conference and venue of your choice, explain how you would staff this event at this particular venue. Your answer should justify your c

Pro-quest international powerpages, Pro-Quest International Powerpages: ...

Pro-Quest International Powerpages: Pro-Quest International Powerpages is another full-text journal database on CD-ROM, offered commercially by the publisher UMI. The UMI(form

Car management system, Car Management System: You have been approached...

Car Management System: You have been approached by a Used Car Dealership who wishes to introduce an IT system to support their business. You are required to implement a protot

What do you understand by contract management, QUESTION When a company ...

QUESTION When a company is forming long-term outsourcing relationship with another company, the foundation of the success of the venture is a good contract management (a) Wh

Vatican rules - british museum cataloguing rules, Vatican Rules - british m...

Vatican Rules - british museum cataloguing rules: Vatican Library. Rules for the Catalogue of Printed Books I translated from the 2nd Italian edition 1938, by the very Rev. Th

Introduction of syringe management, The project ‘Syringe Management Plan' i...

The project ‘Syringe Management Plan' is created to protect the community against misplace of syringe that causes accidental needle injury. This project is introduce as there is no

Implement a successful conservation programme, Implement a successful conse...

Implement a successful conservation programme:  To implement a successful conservation programme, the staff must know:  The nature  of base materials and  manufacturing

Bill of materials , Bill of Materials  Bill of Materials (BOM) is an im...

Bill of Materials  Bill of Materials (BOM) is an important document for any project, production before launching or material requirement planning process.  The American Prod

Explain the philosophy behind quality management system, Question 1: (a...

Question 1: (a) Explain the basic philosophy behind quality management systems such as those specified in ISO 9000:2000 series. (b) Discuss how an effective quality manageme

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