PURCHASE ORDER AND DELIVERY POLICY

Purchase Order Policy
Purchase of materials, supplies and services under a Purchase Requisition shall be covered by a Purchase Order (PO), except for petty cash purchases/ The P.O. shall be the binding contract that reflects the specification requirements, scope and agreed terms of the order. The P.O. shall bear the standard terms and conditions which shall form part of the contract. A copy of the Purchase Order shall be furnished the vendor for the required conforme/signature.
Amendment to the Purchase Order may be effected after the order has been awarded for valid reasons and unavoidable circumstances that may result in changes in price, quantity, delivery schedule and terms and conditions whether it be initiated by the vendor or MIESCOR. Such order amendment shall take effect upon mutual agreement of both parties. For order changes initiated by the vendor, MIESCOR reserves the right to decide whether such revisions would merit a re-evaluation or re-bidding as the case may be.
Cancellation of the Purchase Order shall be allowed upon mutual consent between both parties when:

• the supplier cannot deliver within the specified period;
• failure to deliver replacement within the allotted period for short-shipped, wrong delivered or rejected products; and
• commercial exigencies such as force-majeure, strikes, war, lock-out, etc.

Material Delivery Policy
1. Materials ordered shall be delivered and received at the company Central Warehouse of the business unit, unless  specified instructions are arranged for project site deliveries. Diversion of deliveries to other designated sites shall only be thru the authorization of Procurement.
2. All deliveries must observe the delivery instructions and schedules stipulated in the P.O. and MIESCOR Warehouse shall reserve the right to refuse non-conforming deliveries unless it has prior notice or advice from Purchasing.
3. All deliveries shall be covered by a copy of the P.O., Delivery Receipt, Sales Invoice and other required documents to be received by the designated Warehouse for proper documentation and acceptance inspection.
4. Items not covered or quantities in excess of what is specified in the PO will not be accepted and returned to the vendor.
5. Rejected deliveries shall be replaced immediately and failure to do so may result in cancellation of the order.
6. Late deliveries resulting in project delays and/or disruption in operations will be subject to penalty as stipulated in the terms and conditions of the contract and may result in cancellation of the order and forfeiture of the performance/surety bond of the vendor as warranted.