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

Community of practice, Community of Practice Communities of Practice (C...

Community of Practice Communities of Practice (CoP) are a network of people who are engaged in the process of collective learning in a shared domain. In the organisational cont

Traditional and contemporary issues and challenges, in what ways does the c...

in what ways does the change in organization approach to leadership reflect the same conditions as those that influence its current approach to management?

Reference sources and books, THE REFERENCE SOURCES/ BOOKS: A basic qu...

THE REFERENCE SOURCES/ BOOKS: A basic question arises then when we start discussing reference books, that is what books and other materials a reference library should stock an

Main entry and subject headings - cataloguing work, Subject Headings: ...

Subject Headings: After classification work, logically the next step in the technical processing of a document is the work of assigning appropriate  subject headings. These a

What is an organisational design, Question 1: What are the needs for ma...

Question 1: What are the needs for making organisational change? Explain organizational change Requirements for making organizational change Question 2: Wha

Malcolm baldrige national quality award, The Malcolm Baldrige National Qual...

The Malcolm Baldrige National Quality Award The  Malcolm  Baldrige  national  Quality  Award  is  the  premier  award  for quality achievements and business excellence in the U

Communication in negotiations , Communication in Negotiations  In this ...

Communication in Negotiations  In this section, we will analyse the importance of communication, both verbal and non-verbal. Negotiators understand the importance of effective

Discuss the significance of world heritage sites, QUESTION World herita...

QUESTION World heritage sites are identified as sites of outstanding global values that should be preserved for all humanity. Sites will be preserved for future generations and

Write short notes on cost plus fee contracts, Question 1 Fixed price contr...

Question 1 Fixed price contracts have a preset price that the vendor must adhere to in performing the work and in providing materials. There are different kinds of fixed price con

Production process , Production Process  Let us begin our discussion wi...

Production Process  Let us begin our discussion with the production process.  The production process for any project begins soon after the research and development department f

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