Dictionary of Procurement Terms

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Search Results: 261-270 of 353 results for “C”

  • Corporate Stock

    Shares of ownership in a corporation. (Business, 2002)

  • Corporation

    A body formed and authorized by law to act as a single person, with most of the legal rights of a real person, including the rights to start and operate a business, to buy or sell property, to borrow money, to sue or be sued, and to enter into binding contracts. A legal entity owned by stockholders whose liability is limited to the value of their stock. (Business, 2002)

  • Correction (Prison) Industries

    An organization established to sell/market products manufactured, fabricated, or assembled by incarcerated persons in penal systems operated by a public entity.

  • Cost

    The actual expenses incurred in delivering a product, service, or construction; includes both direct and indirect costs, but does not include fee or profit for the supplier.

  • Cost (Pricing) Data

    Factual information about the actual or estimated costs of labor, material, overhead, and other cost elements that are expected to be incurred in performance of a contract.

  • Cost (Pricing) Data

    Factual information about the actual or estimated costs of labor, material, overhead, and other cost elements that are expected to be incurred in performance of a contract.

  • Cost Adjusted

    CANADIAN The dollar value of materiel items adjusted for upgrades, deterioration in condition, or other changes.

  • Cost Analysis

    The review and evaluation of cost data for the purpose of arriving at costs actually incurred or estimates of costs to be incurred. A cost analysis should be employed when price analysis is impractical or does not allow a purchaser to reach the conclusion that a price is fair and reasonable. Cost analysis is most useful when purchasing nonstandard items and services. (Burt, Dobler, Starling, 2003)

    See Also: Cost Breakdown

  • Cost and Freight (C & F)

    A quoted price that includes both the cost of an item and transportation charges to the destination; commonly used when shipping via ocean freight.

  • Cost Avoidance

    Actions taken to prevent payment of an unnecessary charge– this could be financial (i.e., by negotiating an extension to current prices when the entity becomes aware that price increases are likely to occur) or in resource terms (i.e., by using cooperative arrangements to “avoid” the time and work involved in completing a bidding or contracting exercise on an organization’s own behalf). (Spikes Cavell, 2011)

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