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: 1201-1210 of 2469 results

  • Intergovernmental Contract

    An agreement in which one government contracts with another for the delivery of goods and services. (Harney, 1992)

    See Also: Shared Services

  • Intergovernmental Cooperative Purchasing

    A variety of arrangements under which two or more governmental entities pool their commodity and/or service requirements to purchase aggregated quantities thus achieving economies of scale. The process usually involves a single combined bid or request for proposals in which all of the participating entities are named or their participation implied.

  • Intergovernmental Supply

    Different levels of governments may, where it is advantageous for them to do so, provide goods and services to each other.

  • Interlocking Directorates

    A provision of Section 8 of the Clayton Antitrust Act that prohibits corporations from reducing competition by having the same directors or officers. Sometimes called Interlocking agreements. (The Clayton Antitrust Act).

    See Also: Clayton Act (The Clayton Anti-Trust Act) (U.S. Law)

  • Intermediate Goods

    Goods or services purchased for use as input in the production of final goods or services. (Schiller, 2000)

  • Intermodal

    More than one mode of transportation is involved, i.e., air, rail, truck. (ISM, 2000)

  • Internal Rate of Return

    An efficiency measure of return promised by an investment project over its useful life. It is sometimes referred to simply as yield on a given project. The internal rate of return is computed by finding the discount rate that equates the present value of a project's cash outflow with the present value of its cash inflow. In other words, the internal rate of return is that discount rate that will cause the net present value of a project to be equal to zero.

  • Internal Repairs

    A rebuild/remanufacture process the extent and cost of which cannot be determined until the item is disassembled and evaluated. By definition, an internal repair must contain labor and parts.

  • Internal Service fund

    A type of proprietary fund that accounts for the financing of goods or services provided by one department or agency to other departments or agencies of the governmental unit, or to other governmental units, on a cost-reimbursable basis. Some examples of internal service funds could include self-insurance funds, central warehousing and purchasing, central data processing, and central printing and duplicating.

    See Also: Proprietary Funds, Enterprise Funds

  • International Air Transport Association (IATA)

    A non-political international organization, with headquarters in Geneva. Membership is open to all scheduled airlines registered in countries that hold membership in the International Civil Aviation Organization. IATA promotes the standardization of air transportation rates and promotes safety and efficiency among commercial air carriers. (IATA)

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