Formal purchase definition

Formal purchase means a procurement made in compliance with sealed bid procedures. “Informal purchase” means a procurement made that does not require sealed bid procedures. “Initiate” shall mean to cause a communication to begin to send, transmit, or convey information.
View Source
Formal purchase means a procurement made in compliance with sealed bid procedures.
View Source

Examples of Formal purchase in a sentence

  • Formal purchase agreements (by way of purchase orders and confirmations) will be entered into between the Company (and/or its subsidiaries) and WWX (and/or its subsidiaries) with the detailed terms and conditions as specified in the relevant purchase orders.

  • Formal purchase contract with the suppliers is essential to the Company which will secure and enable JMI to receive regular supply of waste.

  • Steps include: • Preparing procurement documents including bid specifications, and • Small purchase – Request for Quotes • Formal purchase - Request for Proposal (RFP), Invitation for Bid (IFB), • Advertise and obtain quotes or proposals • Evaluate proposals, select successful bidder.

  • Formal purchase agreements (by way of purchase orders and confirmations) will be entered into between the Company, Jinzhou Changhua and Jinzhou Youxin (as the case may be) with the detailed terms and conditions as specified in the relevant purchase orders.

Related to Formal purchase

  • Incremental Purchase means a purchase of one or more Purchaser Interests which increases the total outstanding Aggregate Capital hereunder.

  • Optional Purchase has the meaning set forth in Section 8.1 of the Sale and Servicing Agreement.

  • Retail Purchase means a purchase of any goods or services by the use of the Card and may, at the Bank’s absolute discretion and without prior notice, include or exclude any Card transaction as may be determined by the Bank;

  • Initial Purchase Date means the date on which the first Purchase made pursuant to this Agreement shall occur.

  • Initial Purchase Price has the meaning set forth in Section 2.1.