Terms and conditions

Terms and conditions are the specific provisions, stipulations, or phrases that are assigned to a contract. The contract signer must honor these.

The supplier must agree to terms and conditions in order to do business with the buying organization.

These are example of terms and conditions:

• Inventory is on a consignment basis. Buyers do not pay restocking charges or other handling fees.
• The seller is responsible for giving the buyer a minimum of 30 days notice of any price changes.
• For purchases that are tax exempt, the buyer must provide the seller with certification or other proof of tax-exempt status.

As terms and conditions are added, they are assigned to the article or articles that you selected. During setup, you can choose to allow changes to terms and conditions that are attached to a sourcing event. Changes to terms can only be made if you select the Allow Modification field during setup.