Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 291-300 of 353 results for “C”

  • Cost, Labour

    CANADIAN An expenditure for manual labour measured by the amount paid.

  • Cost, Original

    The original cost for which a good or service was acquired; for equipment purchases it may include shipping, installation, and other associated costs.

  • Cost-Based Pricing

    A method in which a fixed sum or percentage of the total cost is added as an income or profit to the cost of the product to arrive at its selling price.

  • Cost-Benefit Analysis (Study)

    A comparative evaluation of the trade-off between the cost of a good or service and the value or benefit to be obtained to choose among alternatives. (Business, 2002)

  • Cost-of-Living-Adjustment (COLA)

    An automatic adjustment of nominal payment tied to the rate of inflation. (Schiller, 2000)

  • Cost-Reimbursement Contract

    Reimburses the contractor for all incurred costs that are allowable and allocable under the terms of the contract and applicable laws and regulations; may include profit or fee. May also be referred to as a Cost Plus Contract.

    See Also: Cost Contract

  • Council of Logistics Management

    A professional and educational organization whose goal is to promote the understanding and development of the logistics concept.

  • Council of State Governments (CSG)

    The premier multi-branched organization forecasting policy trends for the community of states, commonwealths, and territories on a national and regional basis (ICMA, 2016). CSG alerts state-elected and appointed officials to emerging social economic and political trends; offers innovative state policy responses to rapidly changing conditions; and advocates multistate problem solving to maximize resources and competitiveness. CSG promotes excellence in decision-making and leadership skills and champions state sovereignty. (“Vermont Gov.,” 2006)

  • Counteroffer

    An adjusted Proposal made in response to another offer by the one who rejected the initial offer.

  • Countertrade

    An international barter transaction in which payment is made partially or fully with goods instead of money. A quid pro quo absent monetary exchange. (Ferrell & Hirt, 2003)

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