purchase order

  

Definition

A buyer-generated document that authorizes a purchase transaction. When accepted by the seller, it becomes a contract binding on both parties.

A purchase order sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. Also called order.


Use purchase order in a sentence

  • Make sure to finish installing the software on the servers this morning so we can ship them today and complete the purchase order for Acme.

    20 people found this helpful
  • The transaction was underway and we received the purchase order in the mail and that made us feel a bit relieved.

    17 people found this helpful
  • Our accounts payable department issued a purchase order specifying the precise terms by which XYZ company would be able to provide goods and services to our company.

    16 people found this helpful
Show more usage examples...

Related Videos




http://www.businessdictionary.com/definition/purchase-order.html

Browse by Letter: # A B C D E F G H I J K L M N O P Q R S T U V W X Y Z