Dictionary of Procurement Terms

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Search Results: 231-240 of 353 results for “C”

  • Contract Rates

    Agreed upon transportation rates between a shipper and a carrier. (NASPO, 2001)

  • Contract Record

    A report providing detailed information regarding the orders or releases placed for delivery of goods against a contract so the volume of contract purchases can be determined.

  • Contract Renewal

    A clause in the contract that allows the contract term or period to renew itself for an additional time as defined in the current contract. These renewal clauses may or may not have a maximum number of renewals or contract period. If the renewal clause does not have an end date or a maximum period, this is typically referred to as an “Evergreen Contract,” as it will continue to be valid with no action from either party. However, most of these contracts will have termination language, giving either party the ability to terminate the contract with a predetermined amount of time prior to the expiration date via a written notice to the other party.

  • Contract Signing Authority

    CANADIAN The authority delegated to occupy a position, that is, the incumbent of a position, to sign on his/her behalf Contract, Contract amendment, or Standing Offer documents after ascertaining that the approval authority has been duly granted and ensuring that the Terms and Conditions written in the documents reflect those approved by the Contract approval authority.

  • Contract Status Code

    CANADIAN A code assigned to each milestone in the procurement process.

  • Contract, Amended Amount

    CANADIAN Total cost in Canadian dollars of the Contract reflecting the cumulative impact of the original amount and all Contract amendments.

  • Contracted Delivery Date

    CANADIAN The date agreed to under the Terms and Conditions of a Contract.

  • Contracting Authority

    The authority delegated to persons for entering into and approving contracts and arrangements.

  • Contracting Officer

    A person with the authority to enter into, administer, and/or terminate contracts, and make related determinations and findings.

  • Contracting Out

    The process of establishing contracts with private suppliers to provide a product, service, or business process that was previously provided by the entity’s internal (in-house) resources. The entity maintains responsibility for the provision of the product, service, or business process.

    See Also: Insourcing (in-house), Outsourcing

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