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: 31-40 of 214 results for “S”

  • Seasonally Adjusted

    The adjustment of pricing to reflect seasonal patterns. (Schiller, 2000)

  • Secondary Markets

    Stock exchanges and over-the-counter markets where investors can trade their securities with others. (Business, 2002)

  • Seconds

    Usable products containing imperfections or slight defects that may be marked down below normal list price.

  • Secured Bonds

    Bonds that are backed by specific collateral that must be forfeited in the event that the issuing firm defaults. (Schiller, 2000)

  • Secured Loans

    Loans backed by collateral that the bank can claim if the borrowers do not repay them. (Schiller, 2000)

  • Securities

    Financial contracts such as bonds that grant the owner a share in an asset. (Bishop, 2004)

  • Selective Distribution

    A form of market coverage whereby only a small number of all available outlets are used to expose products. (Business, 2002)

  • Self Evaluation

    A self-assessment of the way a person views him/herself and their work performance and accomplishments.

  • Self Insurance

    Assumption or retention of the risk of loss by a government or a contractor. To retain a risk of loss up to a certain dollar threshold. (Business, 2002)

  • Self-Directed Work Teams

    A group of employees responsible for the entire work process or segment that delivers the product to an internal or external customer. (Business, 2002)

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