Metrics Portal: Terms and Conditions
**Terms and Conditions of Purchase Order (PO) Acceptance:**
1. **Acceptance of PO:** By accessing and using this supply chain portal, the supplier acknowledges and agrees to the terms and conditions outlined herein.
2. **Price Accuracy:** The supplier confirms that the prices listed on the PO are accurate and will be honored for the duration of the contract.
3. **Production Ready Date and Quantity:** The supplier agrees to meet the production-ready date specified in the PO and to deliver the quantity of goods or services as requested in the PO.
4. **Delivery Terms:** The supplier agrees to deliver the goods or services in accordance with the delivery terms specified in the PO, including shipping, packaging, and Incoterms.
5. **Payment Terms:** Payment terms are outlined in the PO, and the supplier acknowledges and agrees to these terms, including any discounts, payment methods, or late payment penalties.
6. **Quality Standards: ** The supplier agrees to meet the quality standards specified in the PO and to provide goods or services that conform to industry standards and any specific requirements outlined in the PO.
7. **Warranty and Defects:** The supplier warrants that all goods or services provided under the PO will be free from defects in materials and workmanship for a specified period.
8. **Changes to PO:** Any changes to the PO, including revisions to quantity, specifications, or delivery dates, must be agreed upon by both parties within the application.
9. **Cancellation and Termination: ** The terms and conditions should specify under what circumstances the PO can be canceled or terminated, and any associated costs or penalties.
10. **Confidentiality:** The supplier agrees to maintain the confidentiality of any proprietary or confidential information shared during the course of the business relationship.
11. **Compliance with Laws and Regulations:** The supplier commits to complying with all applicable laws, regulations, and industry standards in the production and delivery of goods or services.
12. **Insurance and Liability:** The supplier may be required to maintain appropriate insurance coverage and accept liability for any damages or losses resulting from their products or services.
13. **Dispute Resolution:** The terms and conditions should outline the process for resolving disputes, which may include negotiation, mediation, or arbitration.
14. **Force Majeure:** The terms should include provisions for handling situations beyond the control of either party, such as natural disasters or acts of war, which may affect the fulfillment of the PO.
15. **Governing Law:** The contract should specify the governing law that will apply to any disputes or legal matters related to the PO.
16. **Termination for Convenience:** Include a clause that allows the purchasing entity to terminate the PO for convenience with reasonable notice.
17. **Records and Audits:** The supplier agrees to maintain records related to the transaction and grants the purchasing entity the right to audit these records if necessary.
18. **Electronic Acceptance:** The supplier acknowledges that electronic acceptance of the PO, such as through the supply chain portal, is considered legally binding.
19. **Compliance with Supplier Code of Conduct:** If applicable, require the supplier to adhere to a code of conduct that aligns with your organization's ethical and sustainability standards.
20. **Supplier's Right to Reject or Request Changes:** The supplier has the option to reject the PO entirely if they do not agree with the terms and conditions. Alternatively, the supplier may accept the PO with requested changes to terms and conditions in writing to reach mutually agreed-upon conditions.
21. **Notices:** Define how official notices and communications will be sent and received by both parties.
Including the supplier's right to reject or request changes to the terms and conditions provides a mechanism for negotiation and ensures that both parties are in agreement before proceeding with the purchase order. Legal counsel should review these terms to ensure they align with applicable laws and regulations.