Dictionary of Procurement Terms

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Search Results: 51-60 of 99 results for “R”
  • Request for Proposals (RFP)

    The document used to solicit proposals from potential providers (proposers) for goods and services. Price is usually not a primary evaluation factor. An RFP provides for the negotiation of all terms, including price, prior to contract award. May include a provision for the negotiation of best and final offers. May be a single-step or multistep process.
  • Request for Qualifications (RFQu)

    A document that is issued by a procurement entity to obtain statements of the qualifications of potential responders (development teams or consultants) to gauge potential competition in the marketplace, prior to issuing the solicitation.
  • Request for Quotations (RFQ)

    Purchasing method generally used for small orders under a certain dollar threshold. A request is sent to suppliers along with a description of the commodity or services needed, and the supplier is asked to respond with price and other information by a predetermined date. Evaluation and recommendation for award should be based on the quotation that best meets price, quality, delivery, service, past performance, and reliability.
  • Requirement Delivery

  • Requirements Analysis

    Value analysis applied to the development of specifications to eliminate commodities that are not cost effective.
  • Requirements Contract

    A contract used to order only the materials or services actually required during a contract term. An indefinite quantity contract for frequently used goods or services. See also: Open-End Contract, Price Agreement, Blanket Order.
  • Requirements Determination

    A method used to assess what is needed, when it is needed, and how much is needed. Such methods may include reviewing past usage of a commodity, estimating future need, reviewing program objectives, analyzing trends, and performing market and demand analyses using software or other forecasting tools with the objective of satisfying the need.
  • Requisition

  • Requisitioner

    Anyone who initiates a request for goods or services.
  • Rescission of Contract

    The termination or cancellation of a contract to bring all parties, to the degree possible, back to their position before entering into the contract.



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