Dictionary of Procurement Terms

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Search Results: 21-24 of 24 results for “Q”
  • Quid Pro Quo

    An advantage or favor given or expected in exchange for something else. Latin phrase meaning, "this for that" or "something for something."
  • Quota

    An allotment such as a quantity of a good or service that may be allowed (imports) or required (piecework) over a set period of time.
  • Quotation

    A statement of price, terms of sale, and description of goods or services offered by a supplier to a prospective purchaser; may be non-binding if solicited to obtain market information for planning purposes.
  • Quote

    An informal purchasing process that solicits pricing information from several sources.
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