Round Variable (PURCHRD Clause Samples

The 'Round Variable (PURCHRD)' clause defines how numerical values, particularly those related to purchase quantities or amounts, are rounded within the context of a contract. Typically, this clause specifies the rounding method (such as rounding up, down, or to the nearest whole number) and the decimal precision to be used when calculating purchase-related figures. For example, if a calculated purchase amount results in a fractional value, the clause will determine whether to round it to the nearest unit or another specified increment. The core function of this clause is to ensure consistency and clarity in financial calculations, thereby preventing disputes over minor discrepancies in purchase records.