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TeachMeFinance.com - explain Short-term purchase Short-term purchase -- A purchase contract under which all deliveries of materials are scheduled to be completed by the end of the first calender year following the contract-signing year. Deliveries can be made during the contract year, but deliveries are not scheduled to occur beyond the first calendar year thereafter. About the author Mark McCracken Author: Mark McCracken is a corporate trainer and author living in Higashi Osaka, Japan. He is the author of thousands of online articles as well as the Business English textbook, "25 Business Skills in English". Copyright © 2005 by Mark McCracken, All Rights Reserved. TeachMeFinance.com is an informational website, and should not be used as a substitute for professional medical, legal or financial advice. Information presented at TeachMeFinance.com is provided on an "AS-IS" basis. Please read the disclaimer for details.