Dictionary of Procurement Terms

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Search Results: 71-80 of 121 results for “B”

  • Boilerplate

    1. A common term used to refer to standard clauses used in a bid or contract document. The general terms and conditions and instructions to bidders may be sections of a bid document’s boilerplate. 2. A colloquialism used in procurement to identify standard terms and conditions incorporated in solicitations, contracts, or purchase orders and agreements, which are often incorporated by reference. (Harney, 1992)

    See Also: General Provisions, Terms and Conditions (T’s and C’s)

  • BOM


    See Also: Bill of Materials (BOM)

  • Bona Fide

    In good faith.

  • Bond

    1. A certificate reflecting a firm’s promise to pay the holder a periodic interest payment until the date of maturity and a fixed sum of money on the designated maturity date. 2. An interest bearing security issued by governments.

  • Bonded Carrier

    A business transporting goods and operating under a bond to guarantee performance.

  • Bonded Warehouse

    1. A warehouse under bond to the government for payment of customs duties and taxes on goods stored or processed there. 2. A warehouse insured against damage or loss to goods stored there.

  • BPA


    See Also: Blanket Purchase Agreement (BPA)

  • BPI


    See Also: Business Process Improvement (BPI)

  • Brand

    A name, term, symbol, design, or any combination of these that identifies a seller’s products and distinguishes them from competitive products. (Business, 2002)

    See Also: Brand Name, Brand Name (or Equivalent)

  • Brand Loyalty

    The extent to which a customer is favorable toward buying a specific brand to the exclusion of other competitive brands. (Business, 2002)

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