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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Search Results: 51-60 of 115 results for “B”
  • Bill

  • Bill of Entry

    A written account of goods entered at customs, whether they are to be imported or are intended for export.
  • Bill of Exchange

    A term used more often in international trade to describe a written order that requires a person to pay another person a fixed sum on demand or on a fixed date. Usually has legal status as a negotiable instrument.
  • Bill of Lading

    A hauler or carrier’s contract that may also act as the receipt of goods transported and delivered to the consignee. Examples of various bills of lading include Clean/Clear, Ocean, Order, Short-Form, Straight, and Through.
  • Bill of Materials (BOM)

    A list specifying the quantity and the specification, description, or character of various materials and parts required to manufacture, produce, or assemble a certain quantity of a finished product.
  • Bill of Sale

    A written statement transferring ownership of something from seller to buyer.
  • Bin Tag

    A tag attached to a storage bin on which a perpetual inventory is recorded.
  • Binding Arbitration

    Specific to Alternative Dispute Resolution (ADR), binding arbitration involves the presentation of a dispute to an impartial or neutral individual or panel for issuance of a binding decision. The parties can usually choose their arbitrators. See also: Arbitration.
  • Biodegradable

    Capable of decaying through the action of living organisms.
  • Blanket Bond

    A type of bond issued to insure an offeror's performance on two or more contracts instead of having separate bonds for each contract.
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