View Full Version : Use of POs or small dollar agreements

04-08-2010, 06:57 PM
Hi, we are struggling with using a PO or a simple agreement for the purchase of goods and services under $10,000. Our company has significant legal, compliance and insurance requirements which do not lend themselves to, for example, hiring an electrician or plumber, getting some small amount of goods, or a one time small scale consulting arrangement. I am interested in learning how others handle these types of arrangements.

03-07-2012, 11:03 AM
Most of the organisation do adapt a simple PO or one page agreement to handle low spend, low risk and one time requirments.

This PO consist key boiler plate terms and condition, which is drafted in simpler form keeping interest of organisation at higher level.

Key t&c's are;
1. Preamble - with sepecifi parties details.
2. Scope of services/goods
3. Term and Termination
4. Risk and title
5. Acceptance of goods/service
6. Cofidentiality
7 Warranties
8 Labilites
9 IP rights
10 Insurance
11 Law and Jurisdication.
12. Any other T&C's