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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  • Debt Capital

    Borrowed money obtained from loans of various types generally used to capitalize a business and allow it to meet operating expenses. (Business, 2002)

  • Debt Ceiling

    An explicit, legislated limit on the amount of outstanding national debt. (Schiller, 2000)

  • Debt Service

    The interest required to be paid each year on outstanding debt. (Schiller, 2000)

  • Debt Service Funds

    Received resources from other funds, taxes, grants, or proceeds from long-term debt that are used to pay the principal and interest on the debt.

  • Debt-To-Owners’ Equity

    A financial ratio calculated by dividing total liabilities by owners’ equity. (Schiller, 2000)

  • Decentralized Organization

    An organizational design in which authority is widely distributed to lower levels of the organization. Broadly based organizational decision making within and among lower levels of the organization. (Business, 2002)

  • Decentralized Purchasing

    An organizational structure in which designated personnel/operating departments from within the organization have the delegated authority to decide on sources of supply and contract directly with suppliers without consulting or receiving the approval from the Chief Procurement Officer (CPO). It should be noted that the scope and degree, if any, of decentralized procurement varies from agency to agency.

    See Also: Centralized Purchasing

  • Decision Tree

    A decision-making tool that maps alternative courses of action and their related consequences. Many components may be included such as decision forks, outcome forks, outcome probabilities, outcome rewards, and expected values. (Business, 2002)

  • Decisional Role

    A role that involves various aspects of management decision making. (Business, 2002)

  • Declared Value

    1. The monetary value placed on a shipment of goods by the shipper when delivered to the carrier. 2. The value placed upon imported goods by the importer for clearance through customs.

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