A Purchase order is a COMMERCIAL document and first official order ISSUED by the buyer to the supplier, indicating types, quantities, and agreed prices for products or services the supplier will provide to the buyer.

BASICALLY, there are four types of Purchase Orders

Standard Purchase Order:

Used for One-time purchases for goods and services. Here you know the item, price, payment terms an DELIVERY schedule

Planned Purchase Order:

Created when you have long-term agreement with the supplier. You must specify the DETAILS of goods and services, payment terms and the tentative delivery schedule

Blanket Purchase Agreement:

Created when the details of items and services, payment terms are known but not specific about the delivery schedule

Contract Purchase Agreement:

Created when the terms and conditions of a purchase are known but specific goods and services are not.

A Purchase order is a commercial document and first official order issued by the buyer to the supplier, indicating types, quantities, and agreed prices for products or services the supplier will provide to the buyer.

Basically, there are four types of Purchase Orders

Standard Purchase Order:

Used for One-time purchases for goods and services. Here you know the item, price, payment terms an delivery schedule

Planned Purchase Order:

Created when you have long-term agreement with the supplier. You must specify the details of goods and services, payment terms and the tentative delivery schedule

Blanket Purchase Agreement:

Created when the details of items and services, payment terms are known but not specific about the delivery schedule

Contract Purchase Agreement:

Created when the terms and conditions of a purchase are known but specific goods and services are not.