Dictionary of Procurement Terms

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Search Results: 21-30 of 82 results for “N”

  • NATO Standard Item

    An item selected by an officially constituted NATO standardization group, which would, when manufactured in any NATO country, always meet the same performance, application, and quality standards.

  • NATO Stock Number

    A 13-digit number used to identify items of supply consisting of the NATO Supply Classification, the NATO Nation Code Number, National Item Identification Number, and the NATO Item Identification Number.

  • NATO Supply Classification

    Digits 1 through 4 in the NATO Stock Number that include the group and the class within the group, the whole being known as the supply class.

  • Natural Resources

    1. Land, forests, minerals, water, and other things that occur naturally without human intervention. 2. “Gifts of nature” that are used to produce goods and services. (Schiller, 2000)

  • NCMA


    See Also: National Contract Management Association (NCMA)

  • Near Money

    Assets that can be quickly turned into cash, but that cannot be used directly as a medium of exchange like paper money or checks. (Business, 2000)

  • Negotiate

    To communicate or confer with another party to reach an agreement or compromise to settle some matter.

  • Negotiated Fee

    CANADIAN The monetary fee negotiated by Supply and Services Canada with customer departments for cost recovery revenue on services provided.

  • Negotiation

    Conferring, discussing, or bargaining to reach agreement in business transactions. A bargaining process between two or more parties, each with its own agenda and objectives, seeking to reach a mutually satisfactory agreement on, or settlement of, a matter of common concern. A process of planning, reviewing, and analyzing used by a buyer and a seller to reach acceptable agreements or compromises.

  • Negotiation Team

    A group of people, typically including a procurement officer, project manager, technical staff, financial analyst, and legal expert who have the essential skills or knowledge necessary to reach a sound agreement. This team can determine the most appropriate type of contract; terms of the contract; special warranty or delivery provisions; technical and engineering specifications; subcontractors needed, as well as other negotiable goals. The complexity of the negotiation will determine the size of the team. A negotiation team is usually selected for a major acquisition and may include some or all members of the evaluation committee.

    See Also: Evaluation Committee/Team

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