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: 1151-1160 of 2469 results

  • In-State Preference

    A preference in the form of a percentage of cost or percentage of points given to bidders, proposers, and responders doing business in that state.

  • Incentive Contract

    Any contract that includes a means to reward the contractor for reaching certain predetermined goals to reduce cost, reach a level of performance above the level contracted for, or produce results that are beneficial and exceed contract requirements. (Harney, 1992)

  • Income Redistribution

    An economic term that refers to a government policy to redirect income to a targeted sector of a country’s population, for example, by lowering the rate of tax paid by low income earners. (Schiller, 2000)

  • Income Statement

    A financial report that shows an organization’s profitability over a period of time. (Business, 2002)

  • Incompatible Items

    CANADIAN Certain materiel or substances that cannot be stored or shipped together or in close proximity to one another because they are likely to react to each other owing to their chemical composition.

  • Incoterms


    See Also: International Commercial Terms (Incoterms)

  • Incurred Costs

    Actual costs rather than estimated costs.

  • Indefinite Delivery (ID) Contract

    A type of contract in which the time of delivery is unspecified in the original contract, but established by the procurement officer during contract performance.

  • Indefinite delivery with a definite quantity


    See Also: Delivery/Indefinite

  • Indefinite Quantity (IQ) Contract

    A type of a contract that provides for the delivery of indefinite quantities, within stated limits, of supplies or services. These supplies or services are to be furnished during a fixed period, with deliveries or performance to be scheduled by placing orders with the contractor.

Advertisement

Advertisement