Foundation of successful procurement process

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Reference no: EM134045729

Question

A good contract is the foundation of a successful procurement process. However, before drafting a contract, requirement for a physical contract or alternate arrangements should be evaluated. Drafting a contract demands substantial investment of various resources and hence if an alternate arrangement is available, it is worth evaluating. Generally contract need not be drafted in situations where there are standard purchase orders with standard terms and conditions, purchase value or risk is low, purchasing commercially available software with standard licensing agreement or buying with a credit card, etc. If the need for a separate contract is not clear, it is advisable to seek professional advice.

Reference no: EM134045729

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