Receipt Of Goods 

Receipt Of Goods 

Receipt of goods is the formal acceptance of products or services by the buyer. It can also refer to the act of taking possession of goods. The receipt of goods is a key part of the procurement process and is often used to confirm that an order has been received, that it matches the agreed-upon specifications, and that it is in good condition.

When goods are received, they should be inspected for quality and quantity. If there are any discrepancies, they should be documented and brought to the attention of the supplier. The receipt of goods also provides an opportunity to review the terms of the contract and to identify any potential issues that may need to be addressed.

Once goods have been accepted, they become the property of the buyer and can be used or resold as desired. The receipt of goods is a legal document that can be used as evidence in court if there is a dispute over payment or ownership.