Dictionary of Procurement Terms

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Search Results: 2001-2010 of 2469 results

  • Retained Earnings

    Earnings after expenses and taxes that are reinvested in the assets of the firm and belong to the owners in the form of equity. (Business, 2002)

  • Retained Profits

    The amount of profit remaining after tax and distribution to shareholders that is retained in a business and used as a reserve or to finance expansion and investment. (Business, 2002)

  • Retention

    To withhold a certain percentage of the payment due to the contractor until the work is completed and accepted. The contractual terms (contained within the Invitation for Bids (IFB)/ Request for Proposals (RFP)) will stipulate the amount to be retained as well as the time period of the retention.

  • Retention Schedule Records

    A jurisdiction’s established timetable for maintenance and destruction of purchasing records, based on administrative, historical, and legal requirements.

  • Retraining

    Techniques used to prepare the employee for revisions in current processes and procedures or to reinforce existing skills and abilities.

  • Return On Investment (ROI)

    A calculation used in business to determine whether a proposed investment is a wise business decision and how well it will repay the investor. It is calculated as the ratio of the amount gained or lost relative to the basis. The analysis takes the form of a dynamic model or a statistical model. (Business, 2002)

  • Revenue Bond

    A bond that a government issues, to be repaid from the money made from the project financed with it. (Business, 2002)

  • Revenue Generating Contract

    A contract whose primary purpose is to generate revenue or to create a business opportunity for the organization. This type of contract may also serve a need such as operating an organization-owned golf course or tennis center.

  • Reverse Auction

    An online auction in which sellers bid against each other to win a buyer's business. Typically used to purchase commodities from multiple pre-qualified providers. Also referred to as eAuction.

  • Reverse Trade Show

    An event that offers businesses, suppliers, and contractors an opportunity to maximize connections with purchasing professionals who source goods and services. The governmental agencies are the exhibitors, and the suppliers and contractors may visit and meet to determine needs and procedures when dealing with governmental entities.

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