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: 1701-1710 of 2469 results

  • Plant-Matter Based or Bio Based Product

    A product derived from renewable resources, including fiber crops, such as kenaf; chemical extracts from oilseeds, nuts, fruits and vegetables such as corn and soybeans; agricultural residues, such as wheat straw and corn stover; and wood wastes generated from processing and manufacturing operation. These products stand in contrast to those made from fossil fuels and other less renewable resources such as virgin timber. An important component of green purchasing. (Martin & Miller, 2006)

  • PM


    See Also: Preventive Maintenance (PM)

  • PMAC

    See Purchasing Management Association of Canada.

  • Point of Origin

    The location where shipment is received by a transportation line from the shipper. The shipping point.

  • Point of Shipment (POS)

    One of many designated Free on Board (F.O.B.) terms that means that title passes from seller to buyer at seller’s loading dock. Same as F.O.B. Factory, F.O.B. Point of Origin.

  • Point Rating

    An evaluation procedure in which a list of criteria, to which values have been assigned, is used to ascertain the individual merits of proposals that have met the mandatory factors specified in a Request for Proposals (RFP).

  • Point-Click-Buy-Ship

    A reference to eProcurement and eBusiness protocol that allows buyers to access an Internet shopping site, make an authorized purchase from a pre-determined contract supplier, and charge the purchase to a credit card. Frequently used for just-in-time, next day procurements. (Martin & Miller, 2006)

    See Also: Click-and-Ship

  • Policy

    A governing principle or plan that establishes the general parameters for the entity to follow in carrying out its responsibilities.

  • Policy of Insurance

    The formal document delivered by the insurance company to the insured that evidences the rights and duties between the parties.

  • Political Subdivision

    A political entity within a state, which has been delegated certain functions of local government. May include counties, cities, towns, villages, hamlets, boroughs, or parishes.

Advertisement

Advertisement