Reasonable caution and care performed before finalizing a procurement or taking action in the course of managing an entity business project to demonstrate transparency and mitigate risk.
Due Process of Law
The legal principle of fair treatment that states a citizen cannot be denied life, property, or liberty or a business will not be treated arbitrarily or unfairly without appropriate safeguards and legal procedures found in the Fifth and Fourteenth Amendments to the U.S. Constitution.
Occurs when a business or country exports a large quantity of goods at a lower price in a foreign market than the price in the home market.
A category of consumer goods that do not wear out quickly, typically lasting for three years or more.
A public auctioning structure in which the initial price is in excess of the amount buyers are expected to be willing to pay. Price is then lowered in steps until a buyer is found who is willing to pay the current price offered.
Imported or exported good upon which duties are to be imposed.
Customs charge imposed on taking articles out of, or into, a country.