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: 1831-1840 of 2469 results

  • Prospectus

    A document that sets out corporate and financial information for prospective investors. May be submitted by a company in response to a due diligence search by purchasing in an attempt to determine financial responsibility. (Business, 2002)

  • Protectionism

    The economic policy of promoting favored domestic industries through the use of high tariffs and other regulations to discourage imports. Historical variants of this policy have included mercantilism, a trade policy aimed at maximizing currency reserves by running large trade surpluses; and import substitution, a trade policy in which targeted imports are replaced by local manufactures to stimulate local production.

  • Protest

    A written objection by an interested party to a solicitation or award of a contract with the intention of receiving a remedial result.

  • Protocol

    1. a. The forms of ceremony and etiquette observed by diplomats and heads of state; 1 b. A code of correct conduct: safety protocols; academic protocol; 2. The first copy of a treaty or other such document before its ratification; 3. A preliminary draft or record of a transaction; 4. The plan for a course of medical treatment or for a scientific experiment; 5. Computers: A standard procedure for regulating data transmission between computers. (American Heritage Dictionary, 2001)

  • Prototype

    An initial version or working model of a new product or invention. Usually constructed and tested to evaluate the feasibility of a design and to identify problems that need to be corrected. Purchasing may request a prototype to evaluate prior to purchase.

  • Provisioning and Supply

    CANADIAN The process of determining requirements, initiating procurement, and providing a stock of supplies for future needs.

  • Public Agency

    A public entity subject to or created by a governmental jurisdiction.

  • Public Bid Opening

    The process of opening and reading bids at the time and place specified in the solicitation and in the presence of anyone who wishes to attend.

  • Public Entity

    A public entity subject to or created by a governmental jurisdiction.

  • Public Finance Law

    Legislative laws governing the financial activities of government or public sector organizations. (Business, 2000)

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