Please minimize your use of acronyms when communicating with ut, and thirdparties, about procurement. A preprinted form, which incorporates the councils terms and conditions of purchase, used to place an order with a supplier. Instead of idling on my phone when i have 5 mins free, i do a bit of. This glossary is provided as a source of general information about terms commonly heard or found in procurementrelated documents and is published on this website in good faith. Purchase order contract used to outline service or good to be provided and terms of delivery. The act of acquiring goods and services including construction for the use of a governmental activity through purchase, rent, or lease. A bill of lading issued by a freight forwarder acting as a carrier. Procurement glossary of terms by kier london issuu. The glossary of key purchasing terms, acronyms, and formulas. For example, the incoterm cfr stands for cost and freight, meaning the supplier covers the costs to clear the goods for export, and to freight the goods to the named port of destination. Glossary of terms an arbitrary action is an action not based on reason or judgment but on personal will or discretion without regard to rules or standards. This edition of the world bank has been revised and expanded by the terminology unit in the languages services division of the world bank in collaboration with the english, spanish, and french translation sections. After a requisition is approved by procurement, procurement issues a po to the contractor.
In a simple, logical fashion, this glossary presents concise and germane definitions of purchasing terminology. A range of documents produced by the procurement processes that describe to the seller what needs to be done to win the work and what the work involves. If you have any others to add, please add them in the comments below. Procurement and contracts glossary of procurement terms. Glossary state procurement term schedules master agreements. Kier construction terminology abbreviation in brackets definition. Managers, academics, students, professionals and practitioners of supply chain management require ready access to a definitive source of current terminology and practice. The glossary of terms was updated reflecting the procurement networks agreed harmonized definitions for procurementrelated terms.
For the explanation of the terms procurement contract. An informal quote can be verbal received by phone and documented in the. Any attempt to bypass the procurement spend limits is against the law and constitutes stringing. Glossary of purchasing and warehouse inventory terms. The voluntary program is designed to share information that will protect against terrorists compromising the supply chain. Letter that creates an immediate binding contractual relationship between the council and the successful tenderer prior to entering into a formal contract. These definitions are for provided as an aid to understanding corporate resources only and are not legal definitions. Novok ltd is monitoring the global and national situation with corona viruscovid19. Procurement and contract management terminology and definitions following are definitions for commonly used words and terms specific to the full procurement lifecycle. A final stage of the procurement proceedings regulated by the model law, resulting in the conclusion and entry into force of a procurement contract or framework agreement between the procuring entity and selected suppliers or contractors. Aggregation adding together the value of separate contracts for the same supply, service. We would caution, though, against making business decisions based exclusively on these definitions. Like any industry we have a multitude of terms that are commonly used.
If tomtom asks the supplier for a quotation, proposal. The total yearly cost of running a purchasing function. Glossary of commonly used procurement terms page 3 of 10 pnppsgglossary. The terms and definitions found in this glossary relate to procurement. Alternate goods or services that deviate with respect to features, performance or use from the goods or services specified in the procurement document. Unfortunately, this book cant be printed from the openbook.
The glossary of terms was updated reflecting the procurement networks agreed harmonized definitions for procurement related terms. It is designed to provide federal agency personnel with information specific to gpos printing procurement program. If you need to print pages from this book, we recommend downloading it as a pdf. Always update books hourly, if not looking, search in the book search column. Addendum is an addition or supplement to a document. An offer by a contractor for the sale of a good or service. To download the whole procurement glossary in a pdf format, please enter your email address and we will send it over. Oct 15, 2019 a bill of lading issued by a freight forwarder acting as a carrier.
Ive included the list below to help you understand common acronyms you might see. Incoterms international commercial terms are the 3letter acronyms used in international importingexporting. The act of accepting by an authorized representative. Glossary of purchasing terms dur depends upon requirements. It includes the terms and conditions that will govern the purchase and describes the purchase quantity and price. Procurement terminology for suppliers and procurement professionals.
Open procedure one of the procedures for procurement under the eu directives, under which all eligible applicants are invited to tender in a onestage procurement process. Glossary of procurement terms bid an offer made by vendor for a good and or service. Tt gtc procurement of products and services december. Mar 12, 2016 our continuing glossary of procurement terminology is intended to explain some of the jargon used around procurement. In line with government guidelines, as of the 16th march 2020, we have activated our business continuity plan bcp the novok office is now closed, and the team will be working from home, with all nonessential travel cancelled. When making any purchase from these awards, it is required that the authorized user solicit best and final offers from all contractors for the applicable region. A bid bond is a written guarantee from a third party guarantor usually a bank or an insurance company submitted by a contractor bidder with a bid. Printing procurement glossary the following glossary is provided for informational purposes only. Procurement and contract management terminology and definitions.
An inventory accuracy audit technique where inventory is counted on a cyclic schedule rather than once a year. The terms and conditions of the contract may well be different to the terms and conditions contained on the shipping companys bl, which can in extraordinary circumstances lead to legal complications should a dispute arise. The park district reserves the right in its bids to increase or. According to industry experts, covered spend typically results in cost savings of roughly 8%, plus. This course will provide learners with ideas and suggestions for the best methods and techniques for buying products and services they need. This time we go from letter of intent to outputs, taking in ojeu, limitation of liability and liquidated damages. Request for proposal rfp invitation for bid ifb request for quote rfq. Glossary of terms operational practices green building commitment.
These explanations are not meant as legal definitions. The amount of the spend of an organisation that is under the control of the purchasing function in terms of purchases made directly by the purchasing function, purchases made directly by end users in accordance with procurement policy or purchases made by the wider organisation where the purchasing function has been engaged early enough to. Here are some of the basic terms and a brief definition of each. This means that quantities shown on the bid pages are for bid canvassing purposes only e. Pdf supply chain and logistics terms and glossary free. Mro abbreviation for maintenance, repair, and operating supplies.
Confidential information also, proprietary informationany information conveyed to a public employee, due to position in the procurement process, by a manufacturer of firm such as, product testing or trade secret which would not be available as general knowledge. Terms and conditions apply, supplier shall be considered to have agreed to the applicability of these general terms and conditions for future orders, agreements and legal relationships regarding the procurement of products or services. This glossary supplements our buying for schools guide. A competitive selection process normally used for commodityoriented, pricesensitive purchases. Accounts payable or purchase ledger the money owed by a business to its suppliers shown as a liability on a companys balance sheet. Every procurement professional should know the meaning of key terminology used throughout procurement documents in order to have better understanding of supply process. In 2012, the procurement networks working group on harmonization moved the original procurement practitioners handbook to this platform, leaving the main content untouched. Welcome to our novok glossary full of fantastically helpful procurement terms. This includes salaries, employment costs, training, systems costs etc. Englishfrench and frenchenglish french, english abstract. Get ebooks glossary of purchasing and supply chain management on pdf, epub, tuebl, mobi and audiobook for free.
Net lease a commercial lease that requires the lessee to pay some of the property expenses in addition to the rent, such as, for electricity or heating costs. Bidder has submitted a bid containing several variables or components discounts, wage rates, material costs, etc. Form of contract a standard form contract is a contract between two parties, where the terms and conditions of the contract are set by one of the parties, and the other party has little or no ability to negotiate more favourable terms and is thus placed in a take it or leave it position. A thorough compilation of acronyms, formulas, equations and buzzwords, it contains complete definitions of the latest technological terms of the industry. Glossary of terms considerations for a guide to contracting.
Our continuing glossary of procurement terminology is intended to explain some of the jargon used around procurement. Welcome to the nigp online dictionary of procurement terms, the comprehensive reference for public purchasing terms and concepts. See hundredweight supply chain and logistics terms and glossary page 33 cycle counting. Register to join our free member procurement library and receive access to 4 ebooks and 1 ecourse. City of houston strategic procurement division glossary of bid and bidrelated terms. Glossary novok procurement solutions in fleet, hampshire. Procurement glossary glossary of procurement terminology. All laws, requirements, and conditions associated with a contract or purchase order p. A public commitment to the united states green building councils leed leadership in energy and environment design or another green building standard indicates an organization is looking for ways to reduce the impact of their built environment.
A noncompetitive method of procurement used when only one supplier possesses the unique ability or capability to meet the particular requirements of the entity or because only one. Supply chain management terms terms used in purchasing. Glossary of purchasing and warehouse inventory terms standard terminology and definitions relating to purchasing and warehouse inventory systems access spacean aisle used to gain access to facings, slots or stacks. Glossary of purchasing and warehouse inventory terms standard. September 2018 accreditation the process of recognising the capability and capacity of a public authority to perform procurement in an effective manner and in accordance with state procurement board objectives. There are more than 1 million books that have been enjoyed by people from all over the world. Sep 12, 2015 managers, academics, students, professionals and practitioners of supply chain management require ready access to a definitive source of current terminology and practice. Often assigned to one or more buyers in a purchasing organizational structure. Select a letter from the index below to see the glossary items beginning with that letter. Over the years i have gathered the most uptodate glossary of supply chain management terms, concepts and definitions relevant to the subject, which i hope you will find it. For example, the incoterm cfr stands for cost and freight, meaning the supplier covers the costs to clear the goods for export, and to freight the goods to the named port of destination if the incoterm was cif, meaning cost, insurance and freight, the supplier. Central office role in eprocurement ariba that allows specific people within procurement services to verify the name and tax id number of all p2i payment to individual payments with the irs.
Glossary of purchasing terms chicago park district. Glossary of procurement terms wisconsin department of. Process of soliciting written, sealed bids from several suppliers. Glossary of procurementrelated terms used in the 2011. Glossary of procurement terms arbitration a method that is agreed to in advance by the parties to a contract to resolve a dispute by submission to one or more neutral third party arbitrators for a binding judgement. The glossary of key purchasing terms, acronyms, and.
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