Dictionary of Procurement Terms

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Search Results: 51-60 of 121 results for “B”

  • Bid Tabulation

    A summary document of all responsive bidders with their total extended prices, which the agency has calculated and verified to ensure accuracy. It may also include unit prices for each item, total prices, delivery terms and conditions, whether each bidder has met the requirements for licenses, bonds, evidence of insurance, or other information deemed appropriate by the contracting officer.

    See Also: Bid Analysis, Bid Evaluation

  • Bidder

    A person or entity who submits a bid in response to an Invitation for Bids (IFB), Invitation to Tender (ITT), or other formal solicitation type where price is the primary factor in the evaluation process for award determination.

    See Also: Offeror, Proposer, Responder

  • Bidders Conference

    A meeting convened to discuss technical, operational, and performance specifications, and/or the full extent of financial, security, and other contractual obligations related to a bid solicitation with potential bidders; convened before the bid closes.

    See Also: Pre-Bid/ Pre-Proposal Conference (Meeting), Pre-Solicitation Conference

  • Bidders List

    A listing of names and addresses of suppliers from whom bids, proposals, or quotations can be solicited. The list is generally retained in a retrievable database.

    See Also: Source List

  • Bilateral Modification (of a Contract)

    Requires the written approval of both parties to a contract in signatory form. Bilateral modification is often related to some alteration of one or more substantive terms of the contract.

    See Also: Unilateral Modification (of a Contract)

  • Bilateral Monopoly

    A market with only one buyer and one seller. (Schiller, 2000)

  • Bill


    See Also: Invoice

  • Bill of Entry

    A written account of goods entered at customs, whether they are to be imported or are intended for export.

  • Bill of Exchange

    A document drawn by the seller on the buyer, instructing the buyer to pay the amount of the purchase under specified circumstances. (ISM Glossary, 2000)

  • Bill of Lading

    A hauler or carrier’s contract, which may also act as the receipt of goods transported and delivered to the consignee. Examples of various bills of lading: Clean/Clear; Ocean; Order; Short-Form; Straight; and Through.

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