Dictionary of Procurement Terms

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Search Results: 1041-1050 of 2469 results

  • General Agreement on Tariffs and Trade (GATT)

    A trade agreement originally signed by 23 nations in 1947, that provided a forum for tariff negotiations and a place where international trade problems could be discussed and resolved. (Schiller, 2000)

  • General and Administrative (G & A) Expense

    An indirect cost including any management, financial, or other expense which is for the management and administration of the business unit as a whole, and which cannot be identified with a smaller business unit.

  • General Contractor (GC)

    A contractor with the entire responsibility for performing a construction contract. A contractor that bids for a construction contract and bears the entire risk if the contract cannot be performed at the contract price. (Nash et al., 2007)

  • General Fund

    Used to track revenues and expenditures that support all services not assigned to other funds.

  • General Ledger

    A book or computer file with separate sections for each financial account. (Business, 2002)

  • General Obligation Bond

    A bond backed by the full faith, credit, and unlimited taxing power of the government agency that issued it. (Schiller, 2000)

  • General Provisions

    That part of the contract (bid, proposal) that contains all of the standard clauses and requirements.

    See Also: Boilerplate

  • General Terms and Conditions

    The section of a solicitation that contains clauses that deal primarily with the contractual obligations of the parties to a contract; a part of the boilerplate of a bid or contract document. (Harney, 1992)

    See Also: Boilerplate

  • Generally Accepted Accounting Principals (GAAP)

    Uniform minimum standards for financial accounting and recording, encompassing the conventions, rules, and procedures that define accepted accounting principles.

  • Generic (Name)

    Related to or characteristic of a whole group or class; not protected by trademark registration. (Business, 2002)

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