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Collaborative Learning System
A work
environment that allows problem-solving
participation by all team members. Used by
procurement managers to obtain a more
participatory work environment.
(Business 2002)
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Collaborative Relationship
A relationship in
which buyers and sellers have common or
complementary goals and agree to share
resources, often to lower costs.
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Collateral
1. Anything of value that is acceptable to a
lender to guarantee repayment of a loan.
2. Real or personal property pledged as security
for a loan.
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Collective Bargaining
Direct negotiations
between employers and unions to determine
labor market outcomes. May involve wages,
benefits, security, and safety issues. Usually
results in a contract for a specified duration.
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Collusion
When two or more parties act together
secretly to achieve a fraudulent or unlawful
act—particularly by bidders in a competitive
bidding situation—in violation of antitrust
laws.
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Collusive Bidding
A secret agreement among
suppliers to control prices when submitting
bids in an attempt to win contracts by illegal
means or methods.
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Combustible Liquid
Category for a pure chemical
compound with a flashpoint between 100ºF -
200ºF (37.8ºC - 93.3ºC). (OSHA 2020)
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Command Economy
A system in which key
economic functions (e.g., what is produced,
how it is produced, and price) are determined
by a central government rather than a free
market.
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Commerce Business Daily (CBD)
A daily
publication of the U.S. Department of
Commerce that lists U.S. government
solicitations, contract awards, subcontracting
leads, sales of surplus property, and foreign
business opportunities.
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Commercial Grade Product
A product that has
been designed and sold by a manufacturer to
be more durable, more powerful, longerlasting,
and with a larger capacity in
comparison to its consumer-grade product
counterpart. A commercial-grade product is
designed to meet a more complex,
demanding application or operating need and
costs more than a consumer-grade product.
Generally, the component parts of a
commercial-grade product are of a higher
quality and consist of more durable materials
(such as motor parts and bearings that are
metal rather than plastic) that are generally
not visible to the end user but result in longer
product life and better performance. See also:
Consumer Grade Product
