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: 81-90 of 122 results for “E”

  • ESOP


    See Also: Employee Stock Ownership Plan (ESOP)

  • Established Catalog Price

    Price included in a catalog, printed price list, schedule, or other form that is regularly maintained by a manufacturer or contractor, either published or otherwise available for inspection by all customers, which states prices currently in effect for the general buying public for the given supplies or services.

  • Established Due Date

    The date and time specified in the Invitation for Bids (IFB) and Request for Proposals (RFP) for submission of initial bids or proposals.

  • Estimated Contract Date

    CANADIAN The estimated date of the acknowledgement of the offer.

  • Estimated Cost

    The cost to be used as the basis of the sourcing decision. It is representative of all known work and expected unscheduled work arising out of the requirements, i.e., the total estimated contract value.

  • Estoppel

    A legal principle that prevents a person from asserting a position that is inconsistent with his or her prior conduct, if injustice would thereby result to a person who has changed position in justifiable reliance upon that conduct. For example, a landlord might inform a tenant that rent has been reduced, for example, if there is construction or a lapse in utility services. If the tenant relies on this advice, the landlord could be estopped from collecting rent retroactively.

  • Ethics

    1. A principle of right or good conduct or a body of such principles. 2. A system of moral principles or values. 3. A code of conduct. 4. Prohibits breach of the public trust by any attempt to realize personal gain by a public employee through conduct inconsistent with the proper discharge of the employee’s duties. Strong ethical principles are required for public procurement personnel and many professional bodies adhere to published codes of ethics.

    See Also: Integrity, Norm

  • Euro

    The European Monetary Unit (EMU) launched on January 4, 1999, initially with eleven EU member countries. (Business, 2002)

  • European Community (EC)

    Formerly the European Economic Community, this is the part of the European Union under which public procurement legislation is enacted, and is referred to as EC Directives. (Business, 2002)

  • European Union (EU)

    A union of European nations established in 1992 with the Maastricht Treaty to promote trade among its members; one of the largest free trade markets in the world. (Business, 2002)

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