What is a purchase template

A purchase template is a document between the seller of a product and the buyer of the product whereby the details of the purchase done is mentioned. The purchased product, the price at which the negotiation is done inclusive of taxes, the features of the model, warranty and guarantee details, replacement period (if any), etc. are a core part of the purchase template. The purchase template is considered as a legal agreement between the seller and the buyer that can be produced for legal verification in case any conflicts arise. The following points are important to be considered while preparing a purchase template.

Points to be kept in mind while preparing a purchase template:

  • The purchase template is used for legal purposes. Hence before preparing it, the seller should be cautious of mentioning the right purchase details.
  • The purchase template is dependent on the buyer order placed with the seller which is recorded in the seller’s system as the purchase order. So the invoice number of the purchase template should match with the purchase order number.
  • The seller name and address should be mentioned at the header. If the seller is an agent of a company, then his name, address and contact details also hold significance in the purchase for later commission or verification.
  • The product that is bought along with the model or a brief description can be mentioned in a table format. The price of the item should be listed alongside.
  • The taxes that are applicable for the product purchase should also be written in the same table. The gross value which is equivalent to the sum of the price of the item and taxes is written below.
  • At the end of the purchase template, any discounts given at that point of time to the seller are to be mentioned and it should be deducted from the total amount payable by the buyer.
  • At the end, the seller should sign on the purchase template and give it to the buyer.

 

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Purchase Forms

Category: Sample Templates

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