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Buying Allowance
A supplier's reduction to an
entity in the price of goods already purchased
and delivered without a requirement for the
entity to return the goods.
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Buying Behavior
The process by which potential
customers decide whether and which goods
or services to purchase (e.g., consulting
search engines, asking for advice or
references from similar entities, attending
supplier expos).
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Buying In
Knowingly submitting a proposal or bid
below the supplier’s anticipated cost with the
expectation of increasing the contract amount
after the contract is awarded through
unnecessary or overpriced change orders.
Commonly referred to as “low balling” a price.
See also: Lowball.
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Buying Plan
Term that defines the goods and
services to be procured within a set
timeframe, usually on an annual basis, as well
as the method of procurement that will be
used for each good and service. Also referred
to as a Procurement Plan.
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By-Law
Term that most commonly refers to a city
or municipal law or ordinance passed under
the authority of a charter or provincial/state
law that specifies which things may be
regulated by the municipality. See also:
Ordinance.