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Term: Purchasing -> Blanket Order
Term:

Blanket Order

Definition:

A purchase agreement in which the Purchaser contracts with a Vendor to provide the Purchaser's requirements for an item(s) or a service, on an as-required basis. Such arrangements are long term, generally more than a year's time, and limit the amount of money which may be spent at one time or within a period of time.

Related terms:

Net Profit Margin (NPM Pre-Tax)

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