Articles for Buyers

These Purchasing articles will give you the news and information you need to stay up to date in the ever changing Purchasing industry.

April 19, 2013 – 1,601 views
Timothy Brink & Nicholas M. Miller - DLA Piper Practice
Current economic conditions present an extremely difficult environment for retailers. Consumer sales are down. Credit terms have tightened. Bankruptcy filings and liquidations are increasing, often leaving trade vendors with large unsecured claims that may yield pennies on the dollar in a retailer’s bankruptcy. However, trade vendors do have a number of powerful tools at their disposal that if employed effectively can reduce their exposure both before and after the retailer files for bankruptcy... Full Story 
April 17, 2013 – 1,119 views
Buyers' Training
The most important part of buying or selling an asset or property is making up the purchasing agreement. This agreement or contract is the biggest link that holds together the sales and purchase of the commodity. Each item in the contract and the specific intent should be mentioned clearly without any disparity. Purchasing professionals who work with the buyer and seller should take care while coming up with the agreement. The following are some tips which will help purchasing professionals devise the contract rights in such a manner, so as to secure appropriate rights and limit the rights of the seller... Full Story 
April 4, 2013 – 1,132 views
Buyers' Training
When making investment purchases, you may imagine your returns increasing each day. But sometimes, that’s not how things really are. It is painful to see your investments sinking. Lost investments cannot be saved, if the company you trust is declared bankrupt. However, there are glaring signs to spot a distressed vendor. Once you can begin to see those signs, you will recognize the distressed vendor and keep away from them. Without the ability to detect those warning signals, you will often rush headlong to make purchases but rue later. It’s not too late even if you’ve lost. Here are the distress signals to look for... Full Story 
March 15, 2013 – 1,155 views
Buyers' Training
Handling freight bills is a challenge for a company’s accounts payable department for various reasons. Carriers provide aggregate freight bills, and companies find it difficult to break down the bill into individual shipments or purchase orders, which result in an increase in the hidden costs in freight bills. In addition, because many accounts payable departments employ a manual process of validating the freight bill against the bill of lading and other supporting documentation, there could be delays in the processing of the bill, leading to penalty or late fees. In addition, manual maintenance of bills makes auditing or adjustments in rates challenging and difficult due to last minute changes... Full Story 
March 8, 2013 – 3,285 views
Buyers' Training
Request for information (RFI), request for proposal (RFP), and request for quotation (RFQ) are documents forwarded by purchasers to suppliers, which help the purchasers choose the supplier before sourcing a project. An RFI helps to collect information about the willingness and capabilities of potential suppliers to service your project. An RFP contains detailed information that helps you obtain a definite proposal. An RFQ is used to invite detailed bids from shortlisted suppliers... Full Story 
February 18, 2013 – 1,109 views
Buyers' Training
Sellers are liable to provide warranty for all products that are sold by them. Sellers offer a warranty that the goods offered by them meet the specifications and are in proper working condition. A contract to sell goods contains the warranty that the goods are actually owned by the sellers. Even if this warranty is not present in the contract, it is considered as an implied warranty. Product warranty is same as warranty provided through contract, and offers assurance from the seller, which can be depended upon by the purchaser. The warranty can be accompanied by accompanying disclosures that qualify the warranty... Full Story 
February 6, 2013 – 1,139 views
Buyers' Training
An offer is made when one person indicates his willingness to form a legal contract with another person based on fixed terms. A contract is created on acceptance of an offer. An offer states the terms on which the person making the offer, called the offeror, is prepared to be bound by... Full Story 
January 15, 2013 – 1,129 views
Buyers' Training
Any trade exchange between a buying and a purchasing party involves a number of steps. Firstly, both parties must decide on the rates of the goods. Next the decision on transporting the consignment safely to the desired destination is taken. In transit sometimes, the goods may suffer damage inadvertently. Also, the initially packed goods may not have good quality. Often it leads to a number of unpleasant exchanges between the two parties. In order to deal with these circumstances, a purchase contract is required... Full Story