McDermott International Procurement Specialist Interview Questions and Answers

Major clauses in a purchase order include payment terms, delivery terms, warranties, and dispute resolution.

• Payment terms specify when and how payment should be made.

• Delivery terms outline the expected delivery date, shipping method, and any special requirements.

• Warranties detail the guarantees provided by the seller regarding the quality and performance of the purchased goods or services.

• Dispute resolution clauses est...read more

Indemnity clause is used to protect one party from financial loss or legal liability caused by the other party.

• It transfers the risk of loss from one party to another

• It ensures that one party is not held responsible for the actions of the other party

• It is commonly used in contracts, especially in high-risk industries such as construction and healthcare

• Example: A construction company may include an indemnity clause in a...read more

A compressor is priced based on its features, quality, and market demand.

• The features of the compressor, such as its horsepower, size, and efficiency, can affect its price.

• The quality of the compressor, including its durability and reliability, can also impact its price.

• Market demand for the compressor can influence its price, with higher demand leading to higher prices.

• Other factors that may affect pricing include com...read more