Sales agreement granting a
purchaser any reduction in price the supplier
may establish prior to shipment of the goods;
sometimes extended for a period beyond the
date of shipment.
The difference between the lowest
and highest prices for a good or service during
a specific time period.
A reduction in price, usually given
after the completion of the contract and
based on the quantity or value of goods
1. A decrease in the assigned value for a
commodity or service exchanged relative to its
worth determined in some previous time
2. The reduction of an agreed-upon price (to be
paid by the buyer) that is lower than the price
See also: Cost Reduction, Cost Savings.
A pricing strategy in which a
seller initially charges a higher price for a
good or service and then lowers the price as
Economic term used to describe a
period of time during which prices remain
unchanged or change at a slow rate.
Price/Earnings (PE) Ratio
The price of a stock
share divided by earnings per share.
The process of establishing a reasonable
amount to be paid for goods and services;
generally includes labor, material, ancillary
costs, and profit.
Factual information about prices for
goods and services that are substantially
similar to those being procured; can include
offered or proposed selling prices, historical
selling prices, and current selling prices.
A contract entered into by a
public entity with a business entity for the
purpose of obtaining supplies, services, or
construction items of any kind.