Dictionary of Procurement Terms

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Search Results: 11-20 of 174 results for “A”

  • ACAN

    CANADIAN See Advanced Contract Award Notice.

  • Accelerator

    A model relating investment to changes in output in which firms invest more when output is rising and less when it is falling, thus raising the ratio of output to capacity.

  • Accept

    1. To receive as approved, adequate, or satisfactory. 2. To receive willingly with the intent of retaining.

  • Accept with Consideration of Non-conforming Goods

    Describes the entity’s decision to accept the goods, even though the item delivered does not meet the specifications of what was ordered, usually because the supplier offers a discount or other incentive.

  • Accept without Consideration of Non-conforming Goods

    Describes the entity’s decision to accept the delivered goods without discount or other incentive, even though they do not meet the specifications of what was ordered, usually because of the contracting entity's need for the ordered goods.

  • Acceptable Products List (APL)

    A pre-approved list of products, usually grouped by manufacturer, that have proven to be in conformance with developed specifications and standards. The list may result from performance testing of the product or as a result of field testing or laboratory analysis. Also see Qualified Products List (QPL) and Approved Brands List (ABL).

    See Also: ABL (Approved Brands List)

  • Acceptable Quality Level (AQL)

    1. The specified minimum performance that must be achieved by a good or service to assure the entity that the good or service will perform as per the specifications or scope of work. 2. A predetermined quality level which has been deemed as being acceptable, generally used in the manufacturing of material items.

    See Also: Acceptance Sampling (Acceptance Testing)

  • Acceptance

    1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indication by one party of a willingness to act in accordance with the contract or offer. 3. The assumption of a legal obligation by a party to a contract, and to the terms and conditions of that contract. 4. The act of receiving the good or service by an authorized representative with the intention of approving the good or service for payment. May include transfer of title.

  • Acceptance of Offer

    The agreement of the Supplier to deliver the goods ordered for the price offered.

  • Acceptance of Order

    The agreement of the purchaser to an offer submitted by a Supplier.

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