Dictionary of Procurement Terms

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Search Results: 231-240 of 310 results for “C”
  • Corporate Officer

    Person within a corporation appointed to a senior position (e.g., president, treasurer, board chairperson).
  • Corporation

    A registered company or group of people that is distinct and separate from the owners of a business and recognized by law as having the authority to enter into contracts, pay debts, borrow money, etc., on behalf of the business.
  • Correction (Prison) Industries

    An organization established to sell/market products manufactured, fabricated, or assembled by incarcerated persons in penal systems operated by a public entity.
  • Cost

    The actual expenses incurred in delivering a product, service, or construction; includes both direct and indirect costs, but does not include fee or profit for the supplier.
  • Cost (Pricing) Data

    Factual information about the actual or estimated costs of labor, materials, overhead, and other cost elements that are expected to be incurred in performance of a contract.
  • Cost Analysis

    A process that breaks down a cost summary into individual parts and studies each part to determine the costs actually incurred or estimated costs expected to be incurred. See Also: Cost Breakdown.
  • Cost and Freight (C & F)

    A quoted price that includes both the cost of an item and transportation charges to the destination; commonly used when shipping via ocean freight.
  • Cost Avoidance

    Action that avoids incurring costs in the future, also known as "soft savings," and, therefore, not reflected in financial statements.
  • Cost Breakdown

    A process that separates the total cost of a good or service into individual parts and assigns a portion of the total cost to each individual component, (e.g., overhead and profit margin). See also: Cost Analysis.
  • Cost Containment

    Reduction of expenses or prevention of unnecessary spending to remain within budget or to increase profits.
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