Spot contracts & regular trading
Spot contracts:
One-time purchases based on who offers the
best deal at the time of the purchase. No
long-term relationship.
Regular trading:
Repeated spot purchases from one or more
suppliers
ITC M8:U3:3.1-1
, 1. § Identifying the parties §
Objective: To determine the parties
to the contract.
Why:
Who is your company is really dealing wit?
Does it have to capacity you need?
Needed for contractual claims...
Contents: Exact name, type, location,
registration...
ITC M8:U3:3.2-1
,2. § Description of the §
goods/services/capital investment
Objective: To describe the goods/services/
capital investment to be supplied.
Why: To determine if the goods
conform to what you require & and how
to verify this.
Contents: Quality levels, weight, size,
colour, tolerances, defects...
ITC M8:U3:3.2-2
, 3. § Contract price §
Objective: Determine the amount the
buyer is to pay, or the way in which
this amount is to be determined
Why: Price represents the buyer’s
main responsibility
Contents: Price per unit or for total
number of units. Lump-sum or cost plus
or person/day. Currency, taxes, VAT,
price adjustments...
ITC M8:U3:3.2-3
Spot contracts:
One-time purchases based on who offers the
best deal at the time of the purchase. No
long-term relationship.
Regular trading:
Repeated spot purchases from one or more
suppliers
ITC M8:U3:3.1-1
, 1. § Identifying the parties §
Objective: To determine the parties
to the contract.
Why:
Who is your company is really dealing wit?
Does it have to capacity you need?
Needed for contractual claims...
Contents: Exact name, type, location,
registration...
ITC M8:U3:3.2-1
,2. § Description of the §
goods/services/capital investment
Objective: To describe the goods/services/
capital investment to be supplied.
Why: To determine if the goods
conform to what you require & and how
to verify this.
Contents: Quality levels, weight, size,
colour, tolerances, defects...
ITC M8:U3:3.2-2
, 3. § Contract price §
Objective: Determine the amount the
buyer is to pay, or the way in which
this amount is to be determined
Why: Price represents the buyer’s
main responsibility
Contents: Price per unit or for total
number of units. Lump-sum or cost plus
or person/day. Currency, taxes, VAT,
price adjustments...
ITC M8:U3:3.2-3
