Dictionary of Procurement Terms

Something of economic value given to a public official or a public official’s relative without the exchange of consideration that is of equivalent value.

Oversees business expansion and operation on a worldwide level. The internet and other technology developments have facilitated this phenomenon. In public procurement, purchasers exchange goods and services worldwide.

An evaluation technique that may be used to score proposals. It can be applied to major areas and elements of management, operational suitability, and other criteria when identified for evaluation; generally applied to technical and management areas.

1. An observable end result that can be specific and measurable and can helps further define an organization by giving it direction. 2. A contract term often used in seeking MBE/WBE (Minority- and Women-Owned Business Enterprises) participation; a level of expectation that a supplier will make a good faith effort to achieve the predetermined percentage of this participation upon award. See also: Set-Aside, Contract Goal.

Anything that can be purchased that is not a service or real property.

A quantifiable asset, such as the reputation or other added value of a business, for which a buyer may pay an additional price.

A bill of lading used by the U.S. government for shipping government-owned property or for receiving goods delivered to the government.

A federal law enacted in 1993 designed to improve program management in the government by requiring U.S. federal agencies to prepare multiyear strategic plans and to submit performance plans and performance reports annually to Congress.

All property owned by or leased to a government entity or acquired by the government under the terms of a contract, including property made available for the use of the contractor during the term of the contract.