The "Order Description" clause specifies the detailed characteristics and requirements of the goods or services being procured under a contract. It ensures that all parties have a clear understanding of what is being ordered, including aspects such as quantity, quality, specifications, and delivery terms.
Order Description: This Agreement is an annual framework agreement between Party A and Party B. During the current year, Party B can purchase products from Party A by phone, SMS, WeChat, fax, email and other means. The purchase price shall be based on the market price of products of Party B in the same period, and the purchase quantity shall be based on the Party B’s specific order.
Order Description. MicroBT USA hereby sells and conveys to Riot Corsicana, and Riot Corsicana hereby purchases and accepts such conveyance from MicroBT USA, of the MicroBT Miners specified in the following table, in exchange for payment of the Purchase Order Total Price (as specified herein), in accordance with the terms of this Purchase Order No. 02.
Miner Model
Number of Miners
Aggregate Hash Rate
Price per Miner
(EH/s)
(USD)
M56S++
3,724
0.86
$ [****]
M66
14,778
3.69
$ [****]
M66S
48,058
13.46
$ [****]
Totals:
66,560
18.01
$ [****]
Order Description. MicroBT hereby sells and conveys to Riot, and Riot hereby purchases and accepts such conveyance from MicroBT, of the MicroBT Miners specified in the following table, in exchange for payment of the Purchase Order Total Price (as specified herein), in accordance with the terms of this Purchase Order.
An Order Description is a detailed account or outline of goods or services specified within a purchase order or contract. It serves to clearly communicate the expectations and specific requirements of the buyer to the seller, ensuring all parties have a mutual understanding of the transaction details. This description helps prevent misunderstandings or disputes by delineating precisely what is being ordered, including quantity, quality, specifications, and sometimes even price.
When Should I Use Order Description?
An Order Description should be used in any situation where clarity and specificity are needed for a transaction involving goods or services. This can include:
Purchase Orders: When a business places an order with a vendor, providing a precise description helps ensure that the correct items are delivered.
Contracts: Any contractual agreement involving the exchange of goods or services should include an Order Description to detail the subject matter of the contract.
Invoices: Accompanying an invoice with a detailed Order Description helps the recipient verify the items or services billed.
In general, use an Order Description whenever it is essential to document and communicate the specifics of a purchase or agreement comprehensively.
How Do I Write an Order Description?
Writing an effective Order Description involves several key components:
Be Clear and Concise: Use straightforward language to describe the item or service. Avoid jargon unless it is industry-standard and understood by both parties.
Include Specific Details: Provide all necessary information such as model numbers, sizes, colors, quantities, and any other relevant specifications.
Use Bullet Points for Clarity: When listing multiple items or details, bullet points can make the information more readable and accessible.
Reference Specifications: If there are established standards or specifications, refer to them to ensure uniformity and understanding.
State Delivery Expectations: If applicable, include delivery timelines or other logistical details.
Which Contracts Typically Contain Order Description?
Order Descriptions are commonly found in a variety of contracts and agreements, including:
Sales Contracts: To define precisely what the seller is obligated to provide under the agreement.
Service Contracts: To outline the scope and nature of services to be provided.
Supply Agreements: To specify the goods and terms under which a supplier agrees to provide the purchaser.
Procurement Contracts: To detail the specific goods or services being procured by an organization.
Lease Agreements (for equipment): When detailing leased equipment, an order description clarifies what equipment is being leased, and any associated terms.
These contracts rely on clear and comprehensive Order Descriptions to ensure that all parties are aligned regarding the expectations and obligations of the contractual relationship.
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The Outstanding Fees clause stipulates that any unpaid fees or dues incurred by one party must be settled within a specified timeframe. Failure to settle these outstanding fees may result in additional penalties, interest charges, or legal action to recover the owed amount.
The Ownership of Deliverables clause specifies who retains the rights to the outputs or products created under a contract. It typically determines whether the client or the contractor holds intellectual property rights, ensuring clarity on the use, modification, and distribution of the deliverables.
The "Ownership of Proprietary Information" clause establishes that any proprietary information or intellectual property created, disclosed, or accessed during the course of the agreement remains the exclusive property of the originating party. This clause also typically includes provisions outlining how such information should be handled, protected, and used by the receiving party to prevent unauthorized disclosure or misuse.
14 example clauses
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