Dictionary of Procurement Terms

Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 71-80 of 204 results for “P”
  • Postconsumer Material

    A recovered material that would otherwise have been disposed of once it had served its intended use as a consumer item.
  • PPI

  • PPM

  • PPP

  • Practicable

    Possible; a situation in which it is deemed that a given factual result can occur.
  • Pre-Award Contract Review

    An audit or survey performed before a contract is awarded to determine the supplier’s or contractor’s technical, managerial, and financial ability to perform under the proposed contract, as well as the establishment of and compliance with appropriate procurement system procedures.
  • Pre-Bid/ Pre-Proposal Conference (Meeting)

    A meeting held by the procurement professional with potential bidders/proposers prior to the opening of the solicitation for the purpose of answering questions, clarifying ambiguities, and responding to general issues. See also: Pre-Solicitation Conference, Bidders Conference.
  • Pre-Qualification (of Bidder/Proposer)

    The screening of potential suppliers/contractors in which such factors as financial capability, reputation, and management are considered to develop a list of qualified businesses that may then be permitted to submit bids/proposals.
  • Predatory Pricing

    The illegal act of setting prices artificially low with the intent to eliminate competition.
  • Preference

    An advantage given to bidders/proposers in a competition for a contract award that may be granted based on pre-established criteria such as ethnicity, residence, business location, origination of the product or service, business classification (e.g., small business), or other reasons. See also: Local Preference, Buy Local, Disadvantaged Business.



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