Before a buyer can make a final supplier selection, a decision on all the important questions of sourcing strategy, offer evaluations and selections must be reached. A legally binding contract to seal the commitments of all parties is drawn and INCOTERMS are used as appropriate with understanding of risk transfers.
Next, we will explore another dimension of reality with contract administration: defaults and disputes.
|Self-tests 4.1 and 4.2
|Questions to self-tests 4.1_4.2
||Suggested answers to self-tests 4.1_4.2