Funds in a bank account that
can be withdrawn at any time without notice
or penalty (e.g., checking account).
A measure of the change in
the quantity of a good purchased or
demanded in relation to a change in its price.
The amount of inventory required
for a given item.
All activities and costs for the
removal from a construction site of supplies,
equipment, and personnel once work is
completed. See also: Mobilization.
A fee charged by a carrier against a
consignee, consignor, or other responsible
party to compensate for the detention of the
carrier's equipment in excess of allowable
free time for loading, unloading, reconsigning,
or stopping in transit. The term is
also used by suppliers of material delivered in
a variety of returnable containers, such as gas
cylinders, rail containers, and equipment.
1. An accounting term that denotes a loss or
decrease in acquired value over a specified
time period. Usually applies to the loss of
value of a fixed asset (e.g., capital
2. The systematic transfer of the cost of a capital
expenditure (an asset on the balance sheet)
to an expense (on the income statement).
3. To diminish in price or value.
4. The consumption of capital in the production
5. The wearing out of plant and equipment over
a specified time period.
Information, such as
charts, illustrations, brochures, and technical
data, furnished by an offeror on request as
part of an offer to describe the items offered.
The information describes the characteristics
or construction of a product or explains its
operation to determine the acceptability of
A condition that prevents a
product from being useful, the correction of
which would require a design change.
A type of specification that
establishes the characteristics an item must
possess, including details indicating how it is
to be manufactured. A design specification
may include engineering plans or drawings
and blueprints. It states to the contractor in
prescriptive terms what the contractor must
provide to the buyer. See also: Performance
The traditional project delivery
method, which customarily involves three
sequential project phases: design,
procurement, and construction, and two
distinct contracts for the design and
construction (build) phases.