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

Outline various steps of the policy analysis process, QUESTION 1 Policy...

QUESTION 1 Policy implementation is the most critical stage of the policy process. Critically analyse some of the main constraints that hinder the implementation of public poli

denominators, who are those involve in denominators for desi

who are those involve in denominators for desire

Discuss the different policies and factors for rural tourism, QUESTION ...

QUESTION Rural tourism represents a merging of perhaps two of the most influential yet contradictory features of modern life. Not only are the forces of economic, social, cultu

Aligning mergers and acquisitions with corporate strategy, A ligning Merge...

A ligning Mergers and Acquisitions with Corporate Strategy In the previous section we learnt about the motives for acquisition. In this section, we will learn how to align Mer

Describe the guidelines of change management, Question 1 Define strategic ...

Question 1 Define strategic quality management. Describe the elements of strategic quality management Question 2 Explain the types, advantages and drawbacks of qualitative re

Card form - library catalogues, Card Form: Library catalogue in the ca...

Card Form: Library catalogue in the card form is by far the most popular physical form. It is widely prevalent in libraries throughout the world including India. In this form

Limitations of alphabetical index, Limitations of Alphabetical index: ...

Limitations of Alphabetical index: Readers must have some knowledge of the classification scheme used for the arrangement of entries before the person is able to consult the c

Participative management, Participative Management Umbrella term encomp...

Participative Management Umbrella term encompassing management methods where employees share a significant degree of decision-making power with managers. These include MBO, con

Information services, INFORMATION SERVICES: In the earlier Unit of thi...

INFORMATION SERVICES: In the earlier Unit of this Block (Block 1, Unit 1), you have learnt about the concept and need for information. In this context, it has been emphasised

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