Types of Sales Documents and Key Differences

Understanding the various sales documents used in HackIT

Sales Proposal

• Sales Proposal outlines how the product and service meets a client's needs and offers a solution to drive a purchase
• Sales Proposal contains the  following key points

1. Proposed Services
2. Activities , Deliverables and Prerequisites
3. Proposed Timeline
4. Project Team
5. Pricing and Payment Terms
6. Terms and Conditions

Non-Disclosure Agreement (NDA)

• NDA means Non-Disclosure Agreement, a contract that protects confidential information between parties.
•  NDA contains the following key points

1. Definition of Confidential Information
2. Purpose of the NDA
3. Obligations of the Receiving Party
4. Duration of Confidentiality
5. Permitted Disclosures
6. Consequences of Breach
7. Governing Law
8. Return or Destruction of Information

Purchase Order (PO)

• A formal document issued by a buyer to a seller, indicating the details of a purchase.
• PO contains the following key points

1. Purchase Order Number
2. Buyer and Seller Information
3. Service Description
4. Quantity, Price and Tax Information
5. Delivery Information
6. Payment Terms
7. Terms and Conditions

Statement of Work (SOW)

• A Statement of Work is a detailed document that outlines the scope of work, deliverables, timeline, responsibilities, and expectations between the parties involved.
• SOW contains the following key points

1. Project Overview
2. Scope of Work
3. Deliverables and Timeline
4. Milestones
5. Roles and Responsibilities
6. Assumptions and Constraints
7. Payment Terms
8. Acceptance Criteria
9. Legal or Contractual Term

Master Service Agreement (MSA)

• Master Service Agreement is a contract that outlines general terms and conditions for future work between two parties.
• MSA is like a framework agreement for future projects.
• MSA contains the following key points

1. Scope of Services
2. Responsibilities of the Parties
3. Payment Terms
4. Dispute Resolution
5. Confidentiality
6. Intellectual Property (IP) Rights
7. Termination Clause
8. Amendments and Modifications

Invoice

• An invoice is a formal document that requests payment for goods or services provided, detailing the items, quantities, prices, and total amount and Tax
• Invoice contains the following key points

1. Invoice Number
2. Date of Issue
3. Seller  and  Buyer details
4. Tax Details
5. Description of Goods/Services
6. Unit Price & Total Quantity

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                         Thank You

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Sales Proposals

• Sales Proposal outlines how the product and service meets a client's needs and offers a solution to drive a purchase
• Sales Proposal contains the  following key points

1. Proposed Cybersecurity Services
2. Activities , Deliverables and Prerequistes
3. Implementation Plan
4. Pricing and Payment Terms
5. Terms and Conditions