-
Inspection Report
A document compiled as a
result of an organized examination and
analysis to inform the purchasing authority of
a product’s compliance with advertised
specifications.
-
Installment Sale
A contractual exchange made
with the agreement that the purchased goods
will be paid for in fractional amounts over a
specified period of time.
-
Insurance
A contract between an insurance
company and a person or group that provides
for a monetary payment in the case of a
covered loss, accident, death, or other
insurable exposure. A form of risk mitigation.
-
Intangible Asset
A resource that is not physical
(e.g., business goodwill).
-
Integrity
The quality of honesty and strict
adherence to an ethical or moral code of
conduct. See also: Ethics.
-
Intellectual Property
1. Creations of the mind whose ownership is
protected by law.
2. Creative works or ideas embodied in a form
that can be shared or can enable others to
recreate, emulate, or manufacture them.
(USPTO 2021)
-
Inter-Program Efficiency
A method of
determining the most efficient program when
competing programs exist that are designed
to meet the same objective. This analysis is
conducted by using the measures of cost and
anticipated benefits of the competing
programs to determine which program
produces the greatest net benefits. Funds
(budget) may then be appropriately allocated
to the most beneficial program.
-
Interested Party
In the context of an
administrative bid or proposal protest
procedures, an actual or prospective bidder or
proposer whose direct economic interest
would be affected by the award of a contract
or by the failure to award a contract. (See
Federal Acquisition Regulation (FAR) 33.1.)
-
Intergovernmental Contract
An agreement made
between government entities in which one
entity agrees to deliver goods or services to
the other, or to cooperate with or contribute to
one another's efforts. See also: Shared
Services.
-
Intergovernmental Cooperative Purchasing
See
Cooperative Procurement (Purchasing).
