Blanket order

Blanket order,

Definition of Blanket order:

  1. Confirmed long-term order by a buyer to a seller for supplying specified good(s) or service(s), for a fixed period or in a fixed quantity, at agreed-on prices or pricing method. After its acceptance by the supplier, supplies may be made against it periodically, on as-and-when-required basis, or as specified in the order, without calling for new purchase orders.

Meaning of Blanket order & Blanket order Definition