by Ekrem Duman | Jul 25, 2026 | Cost Reduction, Procurement, Supply Chain, Vendor Management
⚡ TL;DRA COMMERCIAL INVOICE is the supplier’s commercial record of the transaction and a key source for customs, payment and landed-cost evidence. Procurement should define required fields, line-level identifiers, currency, Incoterm, origin, value, freight,...
by Ekrem Duman | Jul 25, 2026 | Cost Reduction, Procurement, Supply Chain, Vendor Management
⚡ TL;DRSSDER uses BLS for bales. A bale is a compressed, bound handling unit, not merely a count abbreviation. Procurement should specify material, compression, dimensions, gross and net weight, binding, moisture, marks, stackability, handling, inspection and the...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Procurement, Sourcing, Vendor Management
⚡ TL;DRBILATERAL means mutual or reciprocal in the SSDER glossary. A bilateral procurement agreement should make both parties’ deliverables, information, payment, service, notice, change, remedy and exit duties visible. It is not enough to state that the...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Vendor Management
⚡ TL;DRA BILL OF EXCHANGE is a payment instrument or draft that can sit alongside a purchase contract, documentary collection or letter of credit. Procurement should control who draws, accepts, endorses, presents and pays it; what shipment or invoice it references;...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Procurement, Supply Chain, Vendor Management
⚡ TL;DRAn ADVISING BANK communicates a letter of credit from the issuing bank to the beneficiary and may authenticate the message, but it does not automatically assume the issuing bank’s payment obligation. Procurement must align the LC with the purchase order,...
by Ekrem Duman | Jul 25, 2026 | Contract Negotiation, Cost Reduction, Procurement, Supply Chain
⚡ TL;DRSSDER lists AAR as Against All Risks in insurance language, while A.A.R. elsewhere means the Association of American Railroads. Against All Risks is not literally cover for every loss. Procurement must define insured interest, perils, exclusions, deductibles,...
