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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  • Use Tax

    A tax imposed on the user of goods.

  • Used Equipment

    Pre-owned or rebuilt/remanufactured equipment that may be reconditioned and offered for purchase. Generally sold by brokers and used equipment dealers. Auction sales represent another source of used equipment. Traded on many websites such as eBay. (Martin & Miller, 2006)

  • User Charge

    Fee paid for the use of a public-sector good or service.

  • Using Entity

    1. A department or unit of government that requests goods or services through a central procurement organization. 2. A participant in a cooperative procurement contract.

  • Usury

    To charge an exorbitant rate of interest. Many countries have some form of usury law imposing limits on how high interest charges can be to protect borrowers from being exploited by unscrupulous loan sharks. (Bishop, 2004)

  • Utility

    The ability of a good or service to satisfy a need or want. Utility is the driver behind the basic premise of supply management, i.e., to satisfy a requestor's need in the most economical fashion. (Bishop, 2004)

  • Valuation Method

    CANADIAN Method by which the replacement cost of a piece of equipment is determined.

  • Value

    A fair return on investment.

  • Value Added

    1. The increase in worth of a product or service as it moves through various stages of production and distribution. 2. What contribution a service function within an organization can make toward return on investment, increased productivity, or improved customer service. (Business, 2002)

  • Value Added Reseller

    A business entity that purchases a product from a manufacturer, adds enhancements, and then sells it to another organization. Many large computer manufacturers have agreements with resellers to deliver, install, and configure their equipment. (Business, 2002)

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