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: 31-40 of 99 results for “R”
  • Refused Shipment

    1. A delivery of freight or goods and materials that the consignee refuses to accept. 2. Any delivery from a carrier that is not accepted.
  • Regulation

    A statement by a governmental body to implement, interpret, or prescribe law or policy, or to describe organization, procedure, or practice, often promulgated in accordance with an administrative procedures act.
  • Regulatory Body

    An independent organization, usually established by government, that regulates the activities of companies or entities in an industry.
  • Reinsurance

    A contract in which an insurance company agrees to indemnify another insurance company in whole or in part against risks the first company has assumed.
  • Rejection

    Refusal of a delivered supply or service that does not meet contract specifications or requirements.
  • Relationships (between Buyer and Seller)

  • Relative Price

    A component of benchmarking, whereby the price of a good or service is compared to another price (i.e., a ratio of the two prices).
  • Remanufactured Product

    A product that has been stripped and replaced with worn parts to meet the specifications of the original product.
  • Remedial Training

    A technique used to improve or upgrade an individual’s knowledge and skills when job performance is not meeting predetermined expectations.
  • Remedy

    The means by which a contractual right or obligation is enforced or the violation of such a right is prevented, reduced, or compensated.



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