Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 11-20 of 52 results for “G”
  • General Agreement on Tariffs and Trade (GATT)

    A legal agreement signed by 23 countries on October 30, 1947, that facilitates tariff negotiations and provides for the discussion and resolution of international trade issues.
  • General and Administrative (G & A) Expense

    An indirect cost that includes any management, financial, or other expense that is for the management and administration of the business unit as a whole, and which cannot be identified with a smaller business unit.
  • General Contractor (GC)

    A contractor delegated with the entire responsibility and risk for the day-to-day management and contract performance of a construction project designed by a third party.
  • General Fund

    A fund used to track revenues and expenditures that support all services not assigned to other funds.
  • General Ledger

    A book or computer file with separate sections for each financial account. (Business 2002)
  • General Obligation Bond

    A municipal bond secured by all available resources—including power of taxation—of the issuing entity to repay bond holders.
  • General Provisions

    The part of a contract (e.g., a bid or proposal) that contains all of the standard clauses and requirements. See also: Boilerplate.
  • General Terms and Conditions (Ts and Cs)

    Standard provisions (i.e., clauses) in a solicitation or contract that deal primarily with the contractual obligations of the parties. See also: Boilerplate.
  • Generally Accepted Accounting Principles (GAAP)

    Uniform minimum standards for financial accounting and recording that encompass the conventions, rules, and procedures that define accepted accounting principles.
  • Generic/Generic Name

    Relating to a whole class of goods and services without a brand name or trademark.
  • 1
  • You're on page 2
  • 3
  • 4
  • 5
  • 6



Is there a term missing from our dictionary?


Does a more concise or relevant definition apply?


Submit your comments/suggestions to our editorial board at dictionary@nigp.org