Dictionary of Procurement Terms

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Search Results: 121-130 of 353 results for “C”

  • Combustible Liquid

    Any liquid having a flash point at or above 100ºF (37.8ºC) (U.S. DOL OSHA). May create inventory and supply management issues.

  • Command Economy

    A mode of economic organization in which key economic functions (what, how, and for whom) are principally determined by government directive. Sometimes called a centrally planned economy. (Schiller, 2000)

  • Commerce Business Daily (CBD)

    A daily publication of the United States Department of Commerce listing U.S. Government Solicitations, Contract Awards, Subcontracting leads, sales of surplus property, and foreign business opportunities.

  • Commercial Grade Product

    A product that has been designed and sold by the manufacturer to be more durable or more powerful or longer lasting or having a larger capacity in comparison to its consumer grade product counterpart; designed to meet a more demanding application or operating need or requirements, and generally costs more versus the consumer grade product. Generally, the internal product’s component parts are of a higher quality or more durable materials such as motors, bearings, metal versus plastic, which are generally not visible to the end user but result in longer product life expectancy and performance.

    See Also: Consumer Grade Product

  • Commercial Law

    Principles and rules by which rights and obligations in commercial business transactions are determined, as found in the Uniform Commercial Code. (NASPO, 2001)

  • Commercial Paper

    A short–term promissory note issued by a large corporation. (Ferrell & Hirt, 2003)

  • Commission

    1. The compensation of an agent or broker when calculated as a percentage of the amount of the transaction or the profit to the principal. 2. An allowance to a sales representative or agent for services rendered.

  • Commission Merchant

    An agent or broker who buys or sells goods for others in return for a commission.

  • Commitment Authority

    CANADA The authority delegated to appropriate officers to confirm before a commitment is entered into, as required under financial authority, that there is a sufficient unencumbered balance to discharge such commitment.

  • Commodity

    A marketable item produced to fulfill a need or want, and references both goods and services.

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