Dictionary of Procurement Terms

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

Search the Dictionary of Terms

Search Results: 31-40 of 43 results for “W”

  • Whole Instrument Rule

    If the whole instrument [Contract], taken together, contains no ambiguities or seeming inconsistencies, there is no room for interpretation; but instruments of that degree of perfection are so rare and the courts are so often called upon to settle questions as to the real intent of the parties expressed in written evidences of Contracts… that a large mass of rules of construction have ….been developed … as forming an integral part of the Law of Contracts…. Rules relating to the construction of a Contract as a Whole (1) the intention is to be determined by a reference to the whole instrument, rather than to any particular phrase, clause or sentence.  (2) ….. the real intent must be gathered from the whole description, including the general as well as the particular.

  • Wholesaler

    An individual or group of individuals who inform the press or government officials about unethical practices within their own organization. Whistleblowers have uncovered fraud, waste, and abuse within businesses and governments. (Business, 2002)

    See Also: Retailer

  • Win-Win Resolution

    A reasonably balanced agreement, with each party feeling they obtained something beneficial.

  • Woman-Owned Business Enterprise (WBE)

    Denotes that a woman (or women) has majority ownership and control of a business. May also be entitled to minority classification by certain public entities.

    See Also: Historically Underutilized Business (HUB), Non-Stocked Item, Small Disadvantaged Business, Economically Disadvantaged Individuals

  • Work Order

    A document setting out all terms and conditions of a repair or alteration transaction.

  • Work-In-Process

    In the manufacturing, production, or construction process, the term given to semi-finished goods, products, or equipment. Something that is not completely assembled or manufactured. (ISM, 2000)

  • Workaround

    A bypass of a recognized problem in a system. A temporary fix that implies that a genuine solution to the problem is needed. Frequently, they are as creative as true solutions, involving out-of-the-box thinking in their creation. A workaround is not a permanent solution and may eventually result in system failure.

  • World Class Manufacturing

    The capability of a manufacturer to compete with any other manufacturing organization in a chosen market, with the aspiration of achieving world class excellence in all organizational aspects. It encompasses the practices of total quality management, continuous improvement, international benchmarking, and flexible work schedules. (Business, 2002)

  • World Trade Organization (WTO)

    An organization established by the General Agreement on Tariffs and Trade (GATT) in 1995 to enforce the provisions of the Uruguay Round and to resolve any disputes arising there from. The WTO consists of 147 member countries and is headquartered in Geneva Switzerland. Its mission is to deal with the rules of trade between nations. (WTO)

  • World Trade Organization-Agreement on Government Procurement (WTO-AGP)

    Replaced the General Agreement on Tariffs and Trade (GATT) on January 1, 1996. It is a multilateral agreement to reduce trade barriers between the United States and Canada, the European Union, Japan, Korea, Israel, Norway, and Switzerland. (Business, 2002)
  • 1
  • 2
  • 3
  • You're on page 4
  • 5

Advertisement

Advertisement