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: 1771-1780 of 2469 results

  • Privatization

    The divestiture of management, assets, and responsibility of a public function to the private sector. The function, formerly performed by the public entity, becomes controlled and owned by a private supplier. The divestiture may include the transfer of real and personal property.

  • Privilege Clause

    CANADA A clause used in Canadian tenders which states “the lowest or any tender will not necessarily be accepted.” The “privilege clause” provides the tendering authority with limited discretion in relation to the acceptance or rejection of tenders. The clause is intended to reserve to the owner the discretion to accept or reject the lowest, or any, tender. It does not displace the overarching duty of procedural good faith that the courts have found is an implied term of the bid contract (Contract A).

  • Privity of Contract

    The direct contractual relationship existing between parties that allows either party to enforce contractual rights against the other and seek remedy directly from the other party with whom the relationship exists.

  • Pro-Forma

    A document issued before all relevant details are known, usually followed by a final version. (Business, 2002)

  • Pro-Forma Invoice

    An invoice received before the purchase informing the buyer of the terms of sale. Often applicable to foreign purchases as the buyer’s proof of a future purchase to support the buyer’s request to governmental authorities for import permits and foreign exchange.

  • Probity

    CANADIAN Integrity and uprightness. Uncompromising adherence to the laws, regulations, and policy imperatives concerning government Contracting. An ethical course of action.

  • PROC (Product-Resource-Operating-Contingent)

    CANADIAN See Product-Resource-Operating-Contingent.

  • Procedure

    The detailed series of related activities that must be completed, and the order in which they must be done, to accomplish a given task.

  • Process Control

    The inspection of work-in-progress to provide feedback on, and correct a production process. A quality control technique used in manufacturing. (Business, 2002)

  • Process Improvement

    The increase in value (or decrease in applicable costs) resulting from a modification in any phase of the purchasing and/or supply process. (Crimi & Kaufman, 2003)

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