Supply Chain Management Professional (SCMP) · Question
Which document legally binds a buyer and a seller to a specific transaction, outlining terms and conditions?
A Purchase Order (PO) is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It becom
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Question: Which document legally binds a buyer and a seller to a specific transaction, outlining terms and conditions?
Answer options:
- Request for Proposal (RFP)
- Purchase Requisition ✅ Purchase Order (PO)
- Bill of Lading
Correct answer: Purchase Order (PO)
Explanation: A Purchase Order (PO) is a commercial document issued by a buyer to a seller, indicating types, quantities, and agreed prices for products or services. It becomes a binding contract upon acceptance.
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