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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 required. Learn about the legal, financial, and practical aspects of POs, as well as their formats and examples.
A letter of intent (LOI) is a document outlining the understanding between two or more parties that they intend to formalize in a legally binding agreement. Learn about the purposes, potential downsides and specific examples of LOIs in different contexts, such as academia, real estate and government grants.
Learn about the formal process of buying goods and services, from demand or requirements to payment and delivery. Compare different types of purchases, such as personal, mercantile, industrial and institutionalized.
A blanket order is a purchase order that allows multiple delivery dates over a period of time, often with discounts. It is also called a call-off order or a blanket purchase agreement. Learn how blanket orders are used in different contexts and industries.
An invoice is a commercial document issued by a seller to a buyer relating to a sale transaction and indicating the products, quantities, and agreed-upon prices. Learn about the history, format and variations of invoices, such as pro forma, credit, debit and self-billing invoices.
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