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Sales invoice terms and conditions sample for Procurement

[Music] [Applause] [Music] [Applause] [Music] [Applause] [Music] welcome to supply chain talks in this tutorial we are going to talk about purchase order purchase order is a legal contract between the buyer and the seller thus it is very important that the right information and the terms and conditions should be mentioned by the buyer in the purchase order and the supplier should also check each and everything in the purchase order before providing their acceptance and acknowledgement because once the acknowledgement and acceptance is provided by the supplier to the buyer it becomes a legal contract between the two entities a purchase order can be divided into three components the header the body and the footer let's have a look at what should go into the header of the purchase order the header of the purchase order should have the purchase order number mentioned the date of the issues of the purchase order the contact details of the bile the billing address that is where should the supplier sent the invoice against this purchase order the vendor contact details the Incoterms the mode of transportation road rail sea air the reference duties and a quotation should be mentioned the payment terms agreed should also be mentioned on the purchase order the delivery address should be there the required or tentative delivery date should also be mentioned so these are the components of the header of the purchase order let's have a look at what should be mentioned in the body of the purchase order in the body the name of the material or service being a coil should be clearly mentioned if there is a vendor part number that should also be mentioned the buyer material code or system code should be clearly mentioned the ordered quantity should be their unit of measure should also be mentioned this is very important because there might be a confusion that you require the quantity and pieces whereas the vendor might be giving the item in some other unit like for example kg or in liters the unit price should be mentioned if there are any discounts which were offered by the supplier they should be mentioned if a contract was established between the buyer and the seller then the contract reference should also be mentioned freight costs documentation cost should be there if there is a defined delivery schedule that should be mentioned delivery instructions should also be there if there are any applicable texas like vit or builder holding Tex that should come in the body of the purchase order and the most important part are the authorized signatures along with the signatures it is recommended that the name and the title of the person who is signing the purchase order should also be mentioned on it along with the date on which the signature was done this refines the body of the purchase order let's have a look at what should go into the footer of the purchase order terms and conditions should be mentioned in the footer of the purchase order if there are any penalty clauses they should be there any environment health and safety requirements should also be mentioned Business Conduct guidelines should be there if the company has these then they should be ideally mentioned a reference to anti-corruption and complies guidelines should also be mentioned material receiving and quality guidelines of the vine company should be clearly mentioned on the purchase order if there are any quality standards that need to be followed for the material or the service that should also be mentioned over here termination clauses should be mentioned that is in what conditions can the purchase order of contract be terminated on these steps that should be taken in order to terminate the purchase order we have now seen that what details need to go into the purchase order and with the kind of details that I mentioned it is very much understandable that how important a purchase order is so be very diligent about these details when you are establishing a purchase order this concludes our session on purchase order thank you if you have any comments or questions kindly leave them in the comment section below