purchase order
Definition
Buyer-generated document that authorizes a purchase transaction. It sets forth the descriptions, quantities, prices, discounts, payment terms, date of performance or shipment, other associated terms and conditions, and identifies a specific seller. When accepted by the seller, it becomes a contract binding on both parties. Also called order.
purchase order is in the Accounting & Auditing, Banking, Commerce & Finance and Purchasing & Procurement subjects.
purchase order appears in the definitions of the following terms:
insertion order,
settlement cost,
order point system,
buying pattern,
procuring authority,
purchaser,
standing order,
contingent liability,
order point,
buying structure
and
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