Purchase Order: Difference between revisions
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Latest revision as of 17:34, 7 February 2020
Definition
Purchase Order is a buyer-generated document or dataset that authorises a purchase or procurement transaction sets out descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. It is used to control the purchasing of products and services from external suppliers. When accepted by the seller, it forms the basis of a contract binding on both parties. It is also called an order