DISQUALIFICATION Definition

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DISQUALIFICATION, in the UK, is when a director is found guilty of "unfit" conduct. The director may then be disqualified from holding any management position for 2 to 15 years.

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QUARTERLY REPORT see INTERIM STATEMENT.

PURCHASE ORDER is a written authorization for a vendor to supply goods or services at a specified price over a specified time period. Acceptance of the purchase order constitutes a purchase contract and is legally binding on all parties.

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