The activities associated with writing or receiving and reviewing and accepting the contract for products or services. This may include requesting a formal legal review of the contract language by a qualified legal expert.
In general a purchase contract consists of four basic elements:
- Agreement (offer by Seller and acceptance by Buyer)
- Terms and Conditions (mutual obligations)
- Named parties (Seller and Buyer)
- Language that is legally binding and enforceable
Final acceptance of the contract may be delayed when the terms of the offer differ from the terms of the acceptance (contractual language).
Notes
A Memorandum of Understanding generally does not constitute a contract.
Disclaimer: OpenReference does not provide legal advice and OpenReference Initiative is not a law firm.
Denied Party List
Electronic Signature
Hierarchy
| ID | Name | Level | x | | S0 | Strategic Sourcing | 2 | S0 |
| S007 | Award Contract | 3 | S007 |
Workflow
Note: Common inputs and outputs are listed in alphabetical order. Other inputs and outputs may be required to support varying use cases.Award Contract Strategic Sourcing 5200700 3 {{{keywords}}} {{{description}}}