OpenReference

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

Hierarchy

ID	Name	Level	x
S0	Strategic Sourcing	2	S0
S007	Award Contract	3	S007

Term(s)

ID	Name	Clear	x
DPL	Denied Party List		DPL
ESIG	Electronic Signature		ESIG
MOU	Memorandum of Understanding		MOU

Workflow

From Input(s)	Process	Output(s) To
wf_process wf_arrow C105 Contract C207 Contract S005 Accepted Offer S006 Accepted Offer	S007	wf_arrow wf_process Signed Contract C105 Signed Contract C207 Purchase Order C105 Purchase Order C207

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