Mr. Sandip Chhettri
Karki Brother
New Delhi, India
Free Member
Joined :07/01/2004
No of Topics Posted : 25
Reply/Comments : 19
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TOPIC : Purchase Order (PO)
A Purchase Order (PO) is a commercial document issued by a buyer to a seller, indicating the type, quantities and agreed prices for products or services that the seller will provide to the buyer. Sending a PO to a supplier constitutes a legal offer to buy products or services. Acceptance of a PO by a seller usually forms a once-off contract between the buyer and seller so no contract exists until the PO is accepted.[1] POs usually also specify additional conditions such as terms of payment, Incoterms for liability and freight responsibility, and required delivery date.
A purchase order usually contains: PO number, shipping date, billing address, shipping address, terms of payment (usually in the form of NET 30, NET 45 and NET 60 depending on requirements set by Seller), and a list of services/products with quantities and prices. It is like an agreement between buyer and seller or buyer.
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