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: 11-20 of 30 results for “H”

  • Hold Back

    A public sector regulatory requirement primarily appearing in construction solicitation projects; it is designed to retain a predetermined monetary amount of the full payment or a stated length of time after the project is completed before agency payment is made to the prime contractor to ensure that subcontractors have been paid for their work and materials.

    See Also: Retainage

  • Hold Harmless

    A clause that requires the contractor to assume liability for damages resulting from an action taken by the contractor and absolves the government or other contracting body from any responsibility for the consequences of the action. (Harney, 1992)

  • Holding Cost (Inventory)

    Expenses related to the risk of keeping inventories. May include overhead expenses, labor, equipment, administration, shrinkage, and other costs such as repair of equipment and workers compensation. (Schiller, 2000)

  • Hollow Corporation

    A business entity that has outsourced most of its internal support operations. (Business, 2002)

  • Homogenization

    The removal of characteristic differences between separate markets and cultures. (Business, 2002)

  • Honorarium

    A token of appreciation in recognition of acts or professional services.

  • Horizontal Integration

    The merging of functions or organizations that operate on a similar level. Involves the union of companies producing the same kinds of goods or operating at the same stage of the supply chain. A strategic plan where most business functions are outsourced except a few core activities. (Business, 2002)

  • Horizontal Training

    Broad-based training to develop employee diversification and focus on special skills. Training that provides experiences with those who can share the corporate knowledge base needed to continue the evolution of the profession. Also known as cross training.

  • Hourly Rate

    The amount charged for an hour of labor; includes wages, all indirect costs, and profit. CANADIAN The hourly rate of pay for the classification as established in the standing offer.

  • HTML


    See Also: Hypertext Markup Language (HTML)
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