Dictionary of Procurement Terms

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  • Cost-Reimbursement Contract

    Reimburses the contractor for all incurred costs that are allowable and allocable under the terms of the contract and applicable laws and regulations; may include profit or fee. May also be referred to as a Cost Plus Contract.

    See Also: Cost Contract

  • Council of Logistics Management

    A professional and educational organization whose goal is to promote the understanding and development of the logistics concept.

  • Council of State Governments (CSG)

    The premier multi-branched organization forecasting policy trends for the community of states, commonwealths, and territories on a national and regional basis (ICMA, 2016). CSG alerts state-elected and appointed officials to emerging social economic and political trends; offers innovative state policy responses to rapidly changing conditions; and advocates multistate problem solving to maximize resources and competitiveness. CSG promotes excellence in decision-making and leadership skills and champions state sovereignty. (“Vermont Gov.,” 2006)

  • Counteroffer

    An adjusted Proposal made in response to another offer by the one who rejected the initial offer.

  • Countertrade

    An international barter transaction in which payment is made partially or fully with goods instead of money. A quid pro quo absent monetary exchange. (Ferrell & Hirt, 2003)

  • Country of Origin

    The country where the goods are grown, produced, or manufactured.

  • Covenant

    An agreement or promise of two or more parties, in writing, stipulating that something is done, or shall be done, or as to the truth of certain facts.

  • Cover

    A remedy (in accordance with Section 2-711 of the Uniform Commercial Code) that permits the buyer to seek the reasonable purchase of substitute goods resulting from the seller’s breach of contract.

  • CPAF


    See Also: Cost Plus Award Fee Contract (CPAF)

  • CPCM


    See Also: Certified Professional Contracts Manager (CPCM)

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