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: 1301-1310 of 2469 results

  • LEED Certification


    See Also: Leadership in Energy and Environmental Design (LEED) Certification

  • Legacy Costs

    An economic term applied to those costs incurred by a business that apply to ongoing contractual obligations resulting from agreements with collective bargaining units. Examples include pension and retiree benefits. (Schiller, 2000)

  • Legacy System

    Any outdated computer/software system that remains in use despite the availability of more current technology. It usually is an archaic data management platform that may contain proprietary custom designed software. An old database management system running on mainframes. May run financials, payroll, human resources, purchasing, supply management, inventory control, and other business processes. The name given to a “home grown” technology-database management system. (Business, 2002)

  • Legal Barriers

    Refers to the effect that existing laws, statutes, or ordinances may have on governmental decision making or the lack thereof. (Business, 2002)

  • Legal Notice

    A public notice required by law, ordinance, or executive order. Generally placed in a newspaper of general circulation or may be posted on a website, magazine, or other media, depending on the specific legal requirements.

  • Legality of Purpose

    To be valid and enforceable, a contract must be consistent with federal, state, or local law and cannot violate legal statutes of public policy. (ISM, 2000)

  • Legally Flawed

    A document or situation that contains terms or conditions that are contrary to law that may make an award impossible.

  • Legislative Law

    A source of public procurement law that may include written constitutions, statutes, ordinances, and charters.

  • Less-Than-Carload (LTC)

    A quantity of freight less than the amount necessary to constitute a full carload. A transportation/freight term that refers to a freight rate that is usually higher than for a full carload. (ISM, 2000)

  • Less-Than-Truckload (LTL)

    A quantity of freight less than the amount necessary to constitute a full truckload.

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