Which party has the requirement for goods and/or services to be provided by sellers?

The party that has the requirement for goods and/or services to be provided is the buyer. In contract management, the buyer is the entity that initiates the procurement process by identifying their needs for goods or services. This initiates the contract negotiation and fulfillment process.

The buyer outlines specific requirements, including the quantity, quality, and timeframe for delivery of the goods or services. This is fundamental to the bidding process, where sellers or suppliers respond to the buyer's request with proposals that meet the outlined needs. The buyer's requirements drive the entire procurement cycle, as it establishes the benchmarks for evaluating potential offers from sellers or suppliers.

Additionally, the contractual agreement that results from this process typically emphasizes the buyer's expectations and requirements, ensuring that the seller understands what is needed to fulfill the contract appropriately. Understanding the role of the buyer in establishing requirements is crucial in the context of contract management and procurement practices.