Dictionary of Procurement Terms

The return an investor expects to earn if they purchased a bond and hold it for one year.

Taxes, tolls, or duties levied upon goods that pass a frontier (generally an import duty). A customs duty is a tariff or tax on the import of or export of goods.

A private individual, association, corporation, or partnership authorized by U.S. Customs and Border Protection to aid exporters and importers in meeting government requirements for exports and imports.

A tax levied on goods and services moving into or out of a country.

A concept describing anything associated with the internet or a virtual environment.

Inventory control methods whereby a small subset of inventory is counted at specified intervals.

The total amount of time from the beginning to the end of a process.

Budget shortfall due to unemployment or inflation.

Worker layoffs resulting from a downward trend in the industry or a recession.