A Term Order is a Purchase Order established with a vendor for a specific period of time (term), usually one year, for such services as maintenance, licenses, and leases. There is usually a contract or special terms and conditions associated with this type of order.
Examples Copier lease, facsimile lease, vehicle lease, software maintenance.
New Term Order
- Submit your request through OSCAR identifying the specific need, and attaching any supporting documentation.
- The Purchasing department will notify the department with a renewal notice.
- If you want to renew the Term Order sign the bottom of the renewal form where it states Renew. Submit a new requisition through the OSCAR, and attach the renewal form.
- If you do not want to renew the Term Order, sign the bottom where it states Do Not Renew, and return to the purchasing agent.
- If you receive an invoice for the next term, submit a new requisition through OSCAR.
Term Orders commit funds from the budget being charged.
|3.7||Blanket Purchase Agreements|