Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 331-340 of 2469 results

  • Cash Basis Accounting

    A financial management tool that records income when cash is actually received, and records expenses when cash is paid out. Cash basis accounting does not conform with Generally Accepted Accounting Principles (GAAP) and is generally not considered a good financial management tool because there is a time differential between recording the cause of the action (sale or provision of a service) and its results (payment or receipt of money).

    See Also: Accrual Basis Accounting

  • Cash Discount

    A reduction in the full cost of a good or service when payment is made within a specified period of time.

    See Also: Payment Terms, Prompt Payment Discount, Discount

  • Cash Flow

    The movement of money through an entity over a daily, weekly, monthly, or yearly basis. The management and monitoring of the cash flow within a business is critical to its financial well being. (Business, 2002)

  • Cash In Advance (CIA)

    Payment made to a contractor prior to initiating the performance of the contract.

  • Cash on Delivery (COD)

    A requirement for full payment for goods and services at time of receipt.

  • Cash Transfers

    Income transfers that entail direct cash payments to recipients, e.g., Social Security payments, welfare, unemployment benefits. (Schiller, 2000)

  • Cataloguing

    CANADA The various work processes that have to be performed in identifying, classifying, describing, and stock numbering an item of supply.

  • Cause and Effect Diagrams

    Also known as fishbone diagrams, they are quality control tools which show the possible cause of a problem. It is an aid to brainstorming and hypothesis generation. (Business, 2002)

  • Caveat Emptor

    Latin term which translates to “Let the buyer beware.” It implies that the purchaser/buyer is responsible for the quality assurance of a product or service.

  • Caveat Venditor

    Latin term which translates to “Let the seller beware.” It implies that the seller bears responsibility for product defects and inferior quality issues and must satisfy these concerns to the buyer’s satisfaction.

Advertisement

Advertisement