Procurement terms and abbreviations pdf
Glossary of Bid and Tender Terms and Acronyms | Non Disclosure Agreement | ProcurementFor a newcomer to the world of bids and tenders, the language and jargon can be confusing at the start. This glossary is intended to help with some of the more common terms, acronyms and phrases that you will encounter. ABC - Authorities Buying Consortium The largest non-profit making purchasing agency in Scotland, serving the buying needs of the public sector, charities and voluntary organisations. Added Value Services may be driven as a direct result of the basic contract specifications and may be either free or chargeable. Aggregation Adding together the value of separate contracts for the same supply contract, works or service. Appraisal A detailed assessment of the general capacity of a contractor, supplier or service provider to meet certain pre-determined criteria or standards. Approved List A list of approved suppliers, contractors or service providers who have been pre-selected usually through a tendering process and from whom goods and services must be procured.
Procurement Guidance Part 1: Introduction to Procurement
Glossary of Procurement Terms
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Glossary of business contract terms - general, financial, property and latin definitions - a translation guide for legal gobbledegook and contract jargon. Financial glossary. Property glossary. Here is a business contracts terms and definitions glossary - essentially for UK, and a useful guide for anywhere else in the world. When you are involved in business contract negotiations - especially for your own business - you can achieve far better negotiated results if you have a good understanding of what contracts and their terminology actually mean.
Government procurement or public procurement is the procurement of goods , services and construction on behalf of a public authority, such as a government agency. To prevent fraud , waste , corruption , or local protectionism , the laws of most countries regulate government procurement to some extent.
Acknowledgement A communication indicating that something has been received or understood. In purchasing it usually refers to a form that is received from a supplier that accepts or sometimes modifies the purchase order. Amortization a method used to lower the cost value of a product incrementally through scheduled charges to income or amortization is also the paying off of debt with a fixed repayment schedule in regular installments over time. APS Abbreviation for the American Purchasing Society, a professional organization of buyers and purchasing managers for business. Bartering A type of transaction involving no money or cash where one party provides one type of goods in exchange for another type of goods.