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Norming
A term used in group development in
which interaction changes as members agree
on a common goal, assign individual tasks,
and define a set of rules and roles to ensure
effective and productive team interaction.
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North American Free Trade Agreement (NAFTA)
Passed by Congress in 1993, NAFTA is an
agreement among Canada, Mexico, and the
United States that created a Free Trade Area
(FTA) consistent with the World Trade
Organization’s (WTO) rules, whereby all tariffs
are eliminated within the FTA during a
transition period.
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North Atlantic Treaty Organization (NATO)
An
international organization made up of 28
member countries in which each country
retains its full sovereignty. NATO provides a
forum in which the United States, Canada,
and European countries can consult about
security issues of common concern and take
joint action to address them.
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Notary Public
A public officer appointed by the
state who serves as an impartial witness to
deter fraud related to the signing of documents.
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Notice of Award
A written notification from a
public entity to a successful bidder or
proposer stating that a contract has been
awarded to them in accordance with a bid or
proposal they previously submitted. Effective
with receipt, the supplier or contractor shall
proceed with performance. This allows work to
start while the contract is printed and readied
for distribution.
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Notice of Intent (NOI)
Public notice issued to
announce an action an entity intends to take
with a certain supplier or service provider.
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Notice of Intent to Award
A written notice
publicly posted prior to announcing the award
of a contract to notify interested parties of the
intended award and signal that the
procurement file is available for their review.
The notice also signals that the time period
for protests to be submitted has begun.
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Notice of Proposed Procurement
A general
opportunity available to suppliers to provide
specified products or services. Also referred to
as a Notice of Bidding Request.
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Notice to Proceed (NTP)
Usually used in
construction, an NTP is a notification letter
from an entity to a contractor that states the
date on which the contractor is to begin work
on an awarded project; it also marks the
beginning of the performance period as
stated in the contract.
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Novation
An agreement in which one of the
parties to a contract accepts the substitution
of the second party to the contract with an
alternative party. The rights and obligations of
the previous party are transferred to the
successor party.
