E OBJ 4.02 Vocab

Guarantee

• A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

• The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

• The process of one party reaching an agreement with another party to meet specific needs and wants

• The buying of goods and services for a business

Invoice

• The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

• The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

• A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

• A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed

Manufacturer

• Standards that are established and described in detail; requirements

• The process of one party reaching an agreement with another party to meet specific needs and wants

• A type of producer that changes the shapes or forms of materials so that they will be useful to consumers

• A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

Negotiation

• A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

• The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

• The process of one party reaching an agreement with another party to meet specific needs and wants

• Standards that are established and described in detail; requirements

Purchase agreement

• A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed

• The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

• The process of one party reaching an agreement with another party to meet specific needs and wants

• A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

Purchase order

• The form that a business fills out to order goods; may be the same as a purchase agreement or purchase contract

• A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as nee

• A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

• The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

Purchasing

• The buying of goods and services for a business

• The process of one party reaching an agreement with another party to meet specific needs and wants

• A promise made to the consumer that a product’s purchase price will be refunded if that product is not satisfactory; often called a money-back guarantee

• Standards that are established and described in detail; requirements

Specifications

• Standards that are established and described in detail; requirements

• A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

• The process of one party reaching an agreement with another party to meet specific needs and wants

• A type of producer that changes the shapes or forms of materials so that they will be useful to consumers

Warranty

• A promise made by the seller to the consumer that the seller will repair or replace a product that does not perform as expected

• A purchase contract that lists the good or service to be purchased, the quantity to be purchased, the price, terms of delivery, payment information, warranty and guarantee information, and other details as needed

• The formal, printed record of a sale that includes all necessary information as to the buyer, the seller, items purchased, amounts, prices, delivery date, credit or discount terms, etc.

• A type of producer that changes the shapes or forms of materials so that they will be useful to consumers