What is the difference between indentor and buyer?

Definitions

indentor

- Referring to a person or company that places an order for goods with a supplier or manufacturer.

- Describing a person who arranges for the importation of goods from another country.

- Talking about a person who negotiates the terms and conditions of a purchase agreement with a supplier.

buyer

- Referring to a person or company that purchases goods or services from a seller or supplier.

- Describing a person who selects and acquires products for a retail store or business.

- Talking about a person who is responsible for procurement activities in an organization.

List of Similarities

• 1. Both indentor and buyer are involved in purchasing goods or services.
• 2. Both indentor and buyer negotiate the terms and conditions of a purchase agreement.
• 3. Both indentor and buyer work with suppliers or manufacturers to acquire products.
• 4. Both indentor and buyer play a crucial role in the supply chain process.

What is the difference?

• 1. Scope: Indentor is typically associated with international trade, while buyer can refer to any type of purchasing activity.
• 2. Responsibility: Indentor is responsible for placing orders and arranging for importation, while buyer is responsible for selecting and acquiring products.
• 3. Expertise: Indentor requires specialized knowledge of international trade regulations and procedures, while buyer may require knowledge of product specifications and market trends.
• 4. Hierarchy: Indentor may be a higher-level position than buyer in some organizations.
• 5. Location: Indentor may be located in a different country than the supplier, while buyer may be located in the same country as the seller.

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Remember this!

Indentor and buyer are both involved in purchasing goods or services, but they differ in their scope, responsibility, expertise, hierarchy, and location. An indentor is typically associated with international trade and is responsible for placing orders and arranging for importation, while a buyer can refer to any type of purchasing activity and is responsible for selecting and acquiring products.