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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  • Closing Date/Time

    Refers to the date and time for bid closing. The latest date and time a bid will be accepted by the entity.

  • CMR/CMAR


    See Also: Construction Manager at Risk (CMR)

  • COB

    Close of business. Refers to the end of business day; sometimes used to specify time by which an event must occur.

  • COD

    See Cash on Delivery.

    See Also: Cash on Delivery (COD)

  • Code of Ethics

    A guide to acceptable and ethical behavior as defined by an organization or public body. A standard of behavior adopted by an organization. Written policies or guidelines which apply to the ethical behavior of members of an organization, business, or public entity. (NASPO, 2001)

  • Code of Federal Regulations (CFR)

    The codification of the general and permanent rules published in the Federal Register by the executive departments and agencies of the United States Federal Government.

  • Coincident Indicator

    A measure of economic activity that changes concurrently with changes in the business cycle. (ISM Glossary, 2000)

  • Coinsurance Clause

    A part of a fire insurance policy that requires the policyholder to purchase coverage at least equal to a specified percentage of the replacement cost of the property to obtain full reimbursement for losses. (Business, 2002)

  • COLA


    See Also: Cost-of-Living-Adjustment (COLA)

  • Collaborative Learning System

    A work environment that allows problem-solving participation by all team members. Used by procurement managers to obtain a more participatory work environment. (Business, 2002)

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