How Do You Ensure You Are Getting What You Paid For?

April 25th, 2017

We often hear about Terms and Conditions

 

Today’s post is written by Steven Belvin, Senior Account Manager at SafeSourcing

We often hear about Terms and Conditions, though many people do not actually read them. In this blog, I will be touching on the Terms and Conditions associated with a Request for Quote (RFQ). These Terms and Conditions often include specific details about Shipping, Price Protection Terms, Quality Requirements, and in some cases the Specifications. Terms and Conditions are basically the rules and guidelines that one must follow during a transaction.

Another step of the Procurement process that often does not receive the credit it deserves would be the Specifications. The specifications play a major role in the procurement process because it lays out specific details of each particular item your company wishes to purchase.  Also, the specification will detail essential characteristics that are required. The document will cover every tiny detail of the product and service that the buyer wishes to accumulate. The Business Dictionary Defines Specifications as “Exact statement of the particular needs to be satisfied, or essential characteristics that a customer requires (in a good, material, method, process, service, system, or work) and which a vendor must deliver. Specifications are written usually in a manner that enables both parties (and/or an independent certifier) to measure the degree of conformance. They are, however, not the same as control limits (which allow fluctuations within a range), and conformance to them does not necessarily mean quality (which is a predictable degree of dependability and uniformity).”1 As one can see there is a lot more time and focus that would go into a Specification document, or even a Terms and Conditions document for that matter. Thankfully SafeSourcing will cover all the Terms and Conditions and Specification documents for you and your company; though we will of course, need to know what you want.

For more information on how SafeSourcing can assist your team with this process or on our “Risk Free” trial program, please contact a SafeSourcing Customer Service Representative. We have an entire customer services team waiting to assist you today.

Resources—————————————–

“What Is a Specification (spec)? Definition and Meaning.” BusinessDictionary.com. N.p., n.d. Web. 04 Nov. 2016.

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