Dictionary of Procurement Terms

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Search Results: 11-20 of 204 results for “P”
  • Parol Evidence Rule

    Rule that states that a written contract is the exclusive record of the transaction; therefore, the parties to a contract may not use any other evidence to explain, supplement, or modify the contract regarding any issue that may arise, except in cases involving duress, fraud, or a mutual mistake.
  • Part Number

    An identification number assigned to an individual part by the manufacturer or distributor of that part; usually includes a combination of alpha and/or numeric characters.
  • Partial Payment

    Payment that permits the contractor to invoice at intervals to coincide with the delivery and acceptance of incremental goods or services. See also: Progress Payments, Advance Payments.
  • Partial Shipment/Delivery

    A single order sent in multiple shipments or delivered in multiple deliveries. See also: Back Order.
  • Participant Code

    CANADIAN A two-character international standard organization code that indicates whether the entity is a federal or provincial government.
  • Partnering

    Creating a mutually beneficial relationship with a supplier or contractor for the specific performance of work in which the relationship is trusting and supportive rather than adversarial.
  • Partnership

    A formal arrangement between parties to operate and manage a business and share its risks, liabilities, and profits.
  • Parts-Per-Million (PPM)

    A measure of quality used in acceptance, whereby defective goods or failures must not exceed a stated number for each million parts supplied or tested.
  • Password

    A secret word, phrase, or string of characters that allow the end user access during the authentication process, usually to a website, device, or application.
  • Patent

    A set of exclusive rights granted by a government to the owner to exclude others from commercial use of the owner's invention for a set period of time.



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