A standing purchase order with fixed start and end dates for repetitive purchases from a single vendor. Requisitioners can purchase against the order until the amount of the blanket order is depleted or the blanket order expires. The MIT VIP Credit Card is recommended as an alternative for many blanket orders.
A purchase agreement in which the purchaser contracts with a vendor to provide item(s), and/or service(s), on an "as required" and frequent basis. Such agreements have a limit on the period of time for which they are valid, and the amount of money that can be spent in that time.
A purchase order used to cover multiple purchases
An agreement whose purpose is to attack the small order problem and to make more convenient for users the acquisition of small dollar value products. Typically this sort of agreement is made between a local supplier and the buying firm to cover products whose needs are immediate and whose uses are sporadic and unpredictable. Typically blanket orders are issued monthly for limited cumulative dollar value.
a master document that permits tracking of multiple transactions related to a specific vendor and/or agreement
a purchase order issued to establish an account with a vendor to obtain miscellaneous supplies or services over a specified period of time
a Purchase Order that is not line item specific
a type of purchase order that is used to make repeat purchases or a single purchase that will cover a period time
An ongoing commitment to purchase a specific part which releases are pulled against. Pricing is similar to annual orders but the same P.O. number may be used in subsequent years.
Usually a large order that is shipped in several releases.
A purchasing arrangement where the purchaser contracts with a vendor to provide his requirements for an item or service on an as-required basis.
A purchase order with a vendor for a specified time period, specific commodity, and an estimated quantity to be delivered as requested. Use of minimum call out quantities is advised for this type of order.
A contract under which a vendor agrees to provide goods or services on a purchase-on-demand basis. The contract generally establishes prices, terms, conditions and the period covered (no quantities are specified); shipments are to be made as required by the purchaser.
A purchase order for a defined period of time most frequently used for repetitive purchases.
See Blanket Purchase Order
A contract to order a certain dollar amount of commodities from a specific vendor. It may be used to establish a multiple year agreement or contract. Blanket orders require no FOAPAL and do not encumber funds. Because there is no FOAPAL, invoices are not paid against a blanket order. A regular purchase order is issued against the blanket order to identify the FOAPAL, establish an encumbrance, and make payments.
Syn: blanket purchase order.