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Technology Stocks : Intel Corporation (INTC)
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To: mxyztplk who wrote (23109)5/28/1997 9:57:00 PM
From: Barry Grossman   of 186894
 
Arno,

Thanks for those details.

What DEC refers to as "long-standing supply agreements with Intel", are "our usual purchase order and acknowledgment process" according to Intel, and "The current BOA [Basic Order Agreement]" which "was extended last year and will now expire on June 30, 1999", according to DEC.

I deal with purchase orders and acknowledgements all the time and my understanding of the process is that the buyer issues a purchase order to the seller for a specific amount of specific product at a specified price to be delivered at a specified time to be paid for by a specified date. If acknowledged by the seller, the paperwork becomes a contract.

To continue the relationship, either a new purchase order and acknowledgement have to be issued and acknowledged or the original agreement can be renewed with renewal and acknowledgement.

It appears that Intel is saying that the purchase order that they have agreed to expires at the end of September and that there is no acknowledged purchase order(contract) after that for microprocessors.

"The current BOA [Basic Order Agreement]" which "was extended last year and will now expire on June 30, 1999" is something that DEC refers to and that Intel doesn't. I have no idea what it says but DEC seems to believe that this document guarantees them supply even though there is no acknowledged purchase order.

And the negotiations continue.

Barry
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