IBM TRIRIGA Version 10.5.0

Contracts with vendors

After an agreement is reached between your organization and the vendor, you record the agreement in a contract. A contract can be awarded as a result of the bidding process or can be created separately.

  • Standard contracts in the purchasing process
    A contract creates a legal obligation between your organization and the vendor. A contract specifies details of the agreement, such as the scope of the project and the cost of materials.
  • Awarding contracts from bids
    After the vendors respond to your bid, you can analyze their responses and decide who to award the contract to.
  • Recording contract changes
    A standard contract is a binding agreement. Changes cannot be made directly to the contract. You can use a contract change order to record all changes that are made during the execution of the contract. For example, the terms and conditions might change.
Parent topic: Managing project procurement

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