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: 1511-1520 of 2469 results

  • Negotiated Fee

    CANADIAN The monetary fee negotiated by Supply and Services Canada with customer departments for cost recovery revenue on services provided.

  • Negotiation

    Conferring, discussing, or bargaining to reach agreement in business transactions. A bargaining process between two or more parties, each with its own agenda and objectives, seeking to reach a mutually satisfactory agreement on, or settlement of, a matter of common concern. A process of planning, reviewing, and analyzing used by a buyer and a seller to reach acceptable agreements or compromises.

  • Negotiation Team

    A group of people, typically including a procurement officer, project manager, technical staff, financial analyst, and legal expert who have the essential skills or knowledge necessary to reach a sound agreement. This team can determine the most appropriate type of contract; terms of the contract; special warranty or delivery provisions; technical and engineering specifications; subcontractors needed, as well as other negotiable goals. The complexity of the negotiation will determine the size of the team. A negotiation team is usually selected for a major acquisition and may include some or all members of the evaluation committee.

    See Also: Evaluation Committee/Team

  • Net Cash

    Payment for goods sold, to be made within a rather short period with no deduction allowed from the invoice price.

  • Net Income

    The total profit (or loss) after all expenses including taxes have been deducted from revenue; also called net earnings. (Schiller, 2000)

  • Net Investment

    Gross investment less depreciation. (Schiller, 2000)

  • Net Lease

    A lease that requires the lessee to pay for things that the owner usually pays for. (Business, 2002)

  • Net Present Value (NPV)

    The total present value (PV) of a time series of cash flows. It is a standard method for using the time value of money to appraise long-term projects. Used for capital budgeting, and widely throughout economics, it measures the excess or shortfall of cash flows, in present value terms, once financing charges are met. In short, it is today’'s value of future cost and benefits.

  • Net Price

    Price after all discounts, rebates, etc., have been allowed.

  • Net Proceeds

    CANADIAN The amount received for the disposal of a material asset after subtracting the costs associated with completing the disposal action.

Advertisement

Advertisement