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: 1861-1870 of 2469 results

  • Purchase Price

    CANADIAN The price quoted by a Supplier for a materiel item; may include Delivery and installation costs.

  • Purchase Requisition

    CANADIAN A request to obtain materiel or services and authority to commit funds to cover the purchase.

  • Purchase Requisition (PR)

    A document created by a requestor authorizing the commencement of a purchasing transaction. Typically will include a description of the need and other information that is relative to the transaction. May be submitted in hard copy or via eProcurement software.

  • Purchase Requisition Status

    CANADIAN A status report on a purchase requisition. Also called milestone status.

  • Purchaser

    1. One who acquires goods, construction, and services on behalf of an organization. 2. A buyer agent who purchases on behalf of an organization. 3. A procurer of goods, commodities, services, and construction.

  • Purchasing Agency

    Any governmental body which is authorized to enter into Contracts.

  • Purchasing Audit

    A comprehensive, systematic, independent, and periodic examination of an organization’s purchasing environment, objectives, strategies, and activities with a view toward identifying strengths and weaknesses, including a plan of action to improve purchasing performance. (ISM, 2000)

  • Purchasing Card


    See Also: Procurement Card (pCard), pCard

  • Purchasing Cycle

    The sequence of activities carried out by a purchasing department in the acquisition of supplies and services.

    See Also: Cradle-to-Grave

  • Purchasing Entity

    Any governmental body that is authorized to enter into contracts.

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