About terms and conditions

Terms and conditions are the specific provisions, stipulations, or phrases that a supplier must honor. The supplier must agree to terms and conditions in order to do business with the buying organization.

Examples of terms and conditions may be:

• 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. Remember that changes to terms can only be done if you select the Allow Modification field during setup.

You can also create attachments and add them to an existing term. Attachments are files that provide additional information or supportive text for the term.