A purchase order which is also written as (PO) can be defined as an officially used commercial slip which somehow also noted as a buyer-generated document. Basically it’s a slip which formally issued by a buyer to a seller as a mean of authorized purchase transaction. Seemingly this kind of document will use in business where it’ll indicate following stuff, such as; seller info, type of transaction, quantities, amount of payments, agreed prices for products/services, associated terms and conditions, descriptions, discount offers, buyer info and a bit of other crucial data. In addition when aforesaid slip will be accepted by the seller than in some such way it’ll becomes a binding contract between the both parties (seller & buyer).
Benefits of purchase order; serve as a legal way to record the milestones of transaction, helpful for projects and purchases, save your time to do things officially, has ability to streamline your stocks, convenient way for ordering items & services, helpful for tracking the orders, will thoroughly eliminate the factors of disputes.
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