contracts

This query is : Resolved

Querist : Anonymous

Querist : Anonymous (Querist)

29 March 2010 hi

I need info as to when we need to have contracts and when we need to have PO based agreements....for both vendor and customer ?

also what are the benefits of one above other ? also when NDA needs to be signed ?

Rahul Gupta

Rahul Gupta (Expert)
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29 March 2010 Purchase order is made between buyer and seller wherein seller places the units, quantity and the price of the units required by him and serves as the instruction for the specification and quantity of the materials to be supplied by the supplier.

Contract is entered in order to perform some work and lays down the conditions, terms of payment, dispute clauses, time of payment and other details of the work mentioned under the contract.