Dictionary of Procurement Terms

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Search Results: 21-30 of 96 results for “I”
  • Indefinite Delivery

    Term that refers to when a contract does not specify a delivery date or dates but does include a time range during which the delivery could take place.
  • Indefinite Delivery (ID) Contract

    A type of contract in which the time of delivery is unspecified in the original contract, but rather is determined by the procurement professional during contract performance.
  • Indefinite Delivery with a Definite Quantity

  • Indefinite Quantity (IQ) Contract

    A type of contract that provides for the delivery of indefinite quantities—within stated limits—of supplies or services. These supplies or services are to be furnished during a fixed period, with deliveries or performance to be scheduled by placing orders with the contractor.
  • Indefinite Quantity and Delivery

  • Indemnification

    An agreement of one party to a contract to hold the other party to the contract harmless, or to secure or give security for the reimbursement of any loss or damage.
  • Indemnify

    1. To protect against hurt or loss; to exempt from incurred penalties or liabilities. 2. To compensate or pay for damage.
  • Independent Contractor

    A worker hired by a business or public entity to accomplish a given result who has the right to control or direct their own work as to the details and means by which the desired results are achieved.
  • Independent Cost Estimate (ICE)

    Term that generally refers to the project manager’s and/ or consultant’s cost estimate for a pending project that reflects anticipated project costs for budgetary funding purposes, etc.
  • Indexation

    The linking of a rate to a standard index of prices, interest rates, share prices, or similar items; this occurs on contracts in which the pricing is tied to an index.



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