Dictionary of Procurement Terms

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  • Blanket Order

    1. An agreement to purchase goods from a specific supplier over a defined period of time, up to a maximum dollar amount. 2. A blanket order generally includes established prices, terms and conditions for a defined period of time, although no quantities are specified; shipments are to be made when and as required by the purchaser, which, in certain cases, may be the end user.

    See Also: Price Agreement, Schedule Contract, Systems Contract