In ____________________ Purchasing, the Company Negotiates Long-Term Contracts for Most

question 9

Short Answer

In ____________________ purchasing, the company negotiates long-term contracts for most of the materials it will need.

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Definitions:

Revoke the Offer

The act of withdrawing a proposal that was previously presented to another party before it has been accepted.

Offeree

The party to whom an offer is made in a transaction, who has the power to accept the offer to form a binding contract.

Offeror

The party in a contract who makes an offer to enter into an agreement.

Assignee

An individual, entity, or other party that has been transferred a claim, benefit, or title from another, known as the assignor.