What is the difference between a Supplier Contract and Requisition (Purchase Order)?

A Requisition (later converted into a Purchase Order) is typically used for the one-time purchase of goods or services. This is the most frequently used method of purchase outside of PCards.

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A Supplier Contract works similarly to a Blanket Purchase Order and is used to order recurring services. The ‘contract’ portion of the name means that the service you are ordering will be based upon a contract/agreement between the supplier and the College, or by an estimate or price list provided by the supplier.

Unlike a one-time Requisition (Purchase Order), a Supplier Contract is created only once per fiscal year or any portion within that fiscal year. Services can be ordered as often as needed or as stipulated in the agreement, and the resulting invoice can be paid for using the approved Supplier Contract Number.

Some examples include document shredding, utility payments, consultant fees, departments that frequently use catering, etc.

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Article ID: 85746
Created
Wed 8/28/19 7:49 AM
Modified
Wed 7/1/20 6:14 PM