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Encyclopedia

Purchase Contract

A purchase contract, or purchase agreement, is a legally binding contract between a purchaser (e.g. a retailer) and a seller (e.g. a wholesaler). The contract transfers the ownership of products from a seller to a buyer and outlines the different … Read More

Purchase Order

A purchase order (PO) is an official business document issued by a buyer to a seller promising to buy some specified good at a certain price soon. This grants the buyer the advantage of placing an order without having to … Read More