Definition
A Purchase Commitment is an agreement by a buyer to purchase a specific quantity of a product at a specific price from a seller, often used to secure favorable terms.
Usage and Context
A purchase commitment is an agreement to buy a specific quantity of a product at a set price.
Frequently asked questions
What is the meaning of purchase commitment?
A purchase commitment is an agreement to buy a certain amount of a product at a specific price.
What is purchase order commitment?
A purchase order commitment is an agreement to buy a certain amount of a product at a specific price.
What is a contract by which a buyer and seller agree to the terms of a sale is known as a?
This is known as a purchase agreement.
Related Software
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Benefits
A purchase commitment is an agreement to buy a specific quantity of a product at a set price.
Conclusion
Purchase Commitment is an agreement to buy a specific quantity at a set price.
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