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1. Each purchase is made should be supported by a proper requisition note, which is duly authorized by the respective Department head/in-charge.

2. The Purchase department of the company floats the requisition reasonably in the market and invites proper quotation from all the possible vendors.

3. The requesting department gets the material / item as per its requirement, in terms of quality, quantity, specifications, features, etc.

4. There are sufficient controls to monitor the receipt, storage and issue of material in the stores department.

5. The vendor has billed the company as per the quotations / negotiated rates.

6. The payments for these purchases are made as per the authorization and within due dates.

7. All purchases, receipt and issue of materials and payments are accounted in the books of accounts properly under proper ledger accounts.

8. The controls in the purchase department must be capable of generating appropriate documents at each process level, thereby documenting the complete purchase process.

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