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: 1811-1820 of 2469 results

  • Program Identification Code

    CANADIAN A two-digit code identifying the program to which a Contract may apply.

  • Progress Payments

    A timed sequence of payments made during the performance of a contract; periodic payments made over the life of a contract; allow the contractor to submit invoices for payment as progress is made in performing the contract. Progress payments shift risk to the public agency since payment for progress made does not guarantee that the work will be completed.

    See Also: Partial Payment, Advance Payments

  • Progress Report

    A report prepared by a contractor during the performance of a contract. A useful means of assessing the routine progress of the contractor in selected areas of the contract.

  • Progressive Award

    The award of a definite quantity contract under the same solicitation to two or more suppliers or contractors to furnish the same or similar supplies or services, where more than one supplier is needed to meet the contract requirements for quantity, delivery, or service.

  • Progressive Tax System

    A tax system in which taxes get higher for wealthier residents; it’s the opposite of a regressive tax system. Sometimes referred to as a “graduated” tax system. (Business, 2002)

  • Prohibited Articles

    Articles that will not be handled, as listed in transportation carrier’s tariffs.

  • Project Approval Effective

    CANADIAN Approval based on reliable and up-to-date cost estimates, which provides authority to proceed with a project or complete it in those instances where there is already a preliminary approval, and spend all project funds, based on a specific budget in constant and current (budget-year) dollars.

  • Project Approval-Class Estimate

    CANADIAN Four types, A,B,C,D, defined as follows: Class Estimate A- based on working drawings and specifications and other significant conditions of production/construction. Class Estimate B- based on the design of major systems and sub-systems as well as all site/installation investigations. Class Estimate C- based on the general description of the end item, production/construction experience, and market conditions. Class Estimate D- based on a comprehensive statement of requirements in mission terms and an outline of potential solutions.

  • Project Approval-Preliminary

    CANADIAN Approval based on Class C Estimates, which provides authority to initiate a project as the preferred option for fulfilling a justified need, and spends only those funds necessary to cover such activities as concept and preliminary design and to develop at least a Class B Estimate.

  • Project Duration

    CANADIAN Duration of time from project announcement to completion.

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