Purchasing General Terms and Conditions: How Buyers Reduce Contract Risk
It is hard to overestimate the criticality of crafting effective Purchasing General Terms and Conditions (GTCs).
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Orgalim General Terms – introduction for buyers
Alright, everyone, let’s dive into Orgalim and the general terms they offer! Introduction to Orgalim What is Orgalim? Orgalim is a major European association representing the technology industries. It covers sectors like engineering, electronics, and metalworking. Orgalim works to advocate for these industries at the EU level, shaping policies that support innovation and growth. Purpose…
Should You Pay Suppliers on Time? Why Payment Terms and Delivery Performance Must Not Be Mixed
Should buyers pay suppliers on time if suppliers deliver late? Learn why payment terms, delivery dates, and liquidated damages are different contract questions in procurement.
Procurement Abbreviations: Basic Terms Every New Buyer Must Learn
When you start working as a buyer, one of the first challenges is not the sourcing strategy, the negotiation, or the supplier meeting. It is the language. Procurement work is full of abbreviations. In one meeting, someone may talk about a PR, PO, RFQ, MOQ, SLA, KPI, TCO, ERP, and ESG as if everyone already…
Understanding Supplier Financing Costs: How WACC Impacts Pricing and Payment Terms
In procurement, we often focus on securing the best price and favorable payment terms from suppliers. However, one factor that’s often overlooked is the supplier’s cost of financing. Suppliers face costs associated with how they finance their operations, whether through debt (borrowing money) or equity (raising money by selling shares). These costs, collectively referred to…
Delivery terms not found in Incoterms
In the world of global trade, clarity in shipping and delivery terms is of paramount importance. While Incoterms are the gold standard for this purpose, businesses often come across other terms in their dealings. In this blog post, we’ll explore ten such delivery terms not found in Incoterms and suggest the most closely aligned Incoterm…
NL17: The Nordic General Conditions for the Supply of Goods
Background and Purpose NL17 NL17 (Nordiska Leveransvillkor 2017) is owned and published by the key industry associations in the Nordic countries. These associations represent the interests of their respective national industries and collaborate to create standardized conditions for commercial transactions. The primary organizations involved in the development and publication of NL17 include: Purpose and Collaboration The…
EORI Number for Buyers: What It Is, Who Needs It and How to Use It
Learn what an EORI number is, who needs one, how to apply and how operative buyers use it to prevent customs delays in EU import and export flows.
Electronic Signatures in Procurement: A Buyer’s Guide
Learn how procurement teams can use electronic signatures, verify signing authority, select the right assurance level, and protect contract evidence.
Messages to Suppliers in Procurement: A Basic Guide for Operative Buyers
Learn what messages operative buyers send to suppliers, from purchase orders and acknowledgements to expediting, delivery changes, invoice issues, and performance follow-up.