When negotiating with suppliers, statements made pre-contractually upon which the buyer relies – including oral statements – can become terms implied into the contract, even if they are not written down in the contract as express terms. Some comments are mere ‘puffery’ while other representations made before the contract was signed, but not subsequently incorporated into the agreement, may become implied terms. Only promissory statements become terms; other statements may be treated as mere representations. Good practice is to record what was important from the sales and negotiation process, especially those terms upon which the buyer has relied, and make them express terms in the final agreement. See also Contractual Term, Puffery and Term, Promissory.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.