Purchase order Terms and Conditions

by Free TemplatesTerms and Conditions

Purchase Order Terms and Conditions:

If you are looking for a BASIC Terms and Conditions (TC’s) template to use with your purchase order, the following set will get you going. If you typically do not include a set of TC’s with each purchase order you fax, email or transmit to your Suppliers, at the very least you should have each Vendor sign off on your TC’s and have them agree that all future purchase orders they fulfill will be bound by such TC’s.

These days digital storage is a cheap commodity so you can have the Vendor sign off on your TC’s and store the documents by way of pdf for future reference. This will give you some  peace of mind, necessary back-up and also allows you to avoid having to transmit them with each purchase order you issue.

FOB Point

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FOB Point:

Lets talk about shipping terms and where the responsibility lies for a shipment.  The correct definition for FOB Point is Free-on-Board aka freight on board and the term FOB is often misunderstood, even by the professionals.

The FOB point is important as it ascertains:

  • when legal title of the goods being shipped transfers to the buyer. Say you were purchasing a bulk liquid like a fuel or a chemical, the FOB point could be origin, destination, buyers tank or even the intake nozzle at point of delivery.  As you can see, depending on the commodity, having the proper FOB point is crucial.
  • who is responsible for handling damaged goods or freight claims with the carrier in the event they are lost or damaged during shipment. An example: FOB Destination, Freight collect means: Buyer — Pays and is responsible for freight charges, Seller — Owns goods in transit, Seller — Files any damage claims (if any). Another potential headache area so choose wisely.
  • who pays the carrier.

Many will suggest or argue that FOB destination is the most beneficial because

Letter of Understanding (LOU) – Sample

by All TemplatesLetter of IntentSales Agreements

Sample Letter of Understanding -LOU:

If you find yourself in the position of purchasing a website, it’s content and the domain name or URL, this sample template will give you an idea of some specific points you will want to cover to ensure you are avoiding any potential misunderstandings. Also, keep in mind you can tailor this template for other LOU requirements.

SAMPLE LETTER OF UNDERSTANDING for acquisition of  [www.domainname[dot]com]

June 22, 2014

[name] [street address] [city, state and zip]

Dear[_____________________:]

This letter summarizes the understanding we have reached regarding the terms and conditions of sale of the website or (domain name) [________________]. To be certain this letter accurately reflects our understanding, please review the items below and indicate your understanding and agreement by signing on the signature line below.

Terms and Conditions of Sale

A. The agreement covers the outright sale of the domain and website content for http://www.[________________ ]for the price of U$[__________]. Sale price was based on revenue of approximately $100.00 per calendar month. Price includes free push (transfer) at[_____________] and all paid up domain registration fees.

This template in its entirety is included in both the Premium and Mega Pack downloads in the  margin. Once purchased, it is sent over immediately by way of digital download.