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: 111-120 of 185 results for “S”
  • Stare Decisis

    Latin phrase meaning, "To stand by things decided." A judicial doctrine in which courts follow the standards, rules, and principles of previous court cases that share the same set of facts (a precedent).
  • Startup

    A company in the first stages of operation founded by one or more entrepreneurs to develop a unique good or service and bring it to market.
  • State-Use Law (Industries)

    State or federal law or executive order that creates a preference for entities to purchase goods or services produced or provided by correction/prison industries.
  • Statement of Account

    A detailed listing, usually prepared by the supplier, of transactions taking place over a stated period, usually concluding with the open or unpaid balance.
  • Statement of Work

    A written description in a contract detailing performance expectations and deliverables between the contracting parties. After a supplier has been selected, the statement of work becomes the basis for the contract and must provide sufficient information to meet the entity’s needs and achieve successful outcomes, define the expectations of the parties, set price and payment schedules, and mitigate or avoid disputes.
  • Statistical Process Control (SPC)

    A method, technique, or procedure to analyze or monitor a process. SPC looks to achieve or maintain a state of control, improve a process capability, and remove waste. Much of the benefit of SPC lies in its ability to examine a process measure output. Used mainly in manufacturing lines, SPC seeks to provide in the government environment “continuous product or service improvements,” leading to reduced wait times.
  • Statute

    Written law approved by legislatures, parliaments, or houses of assembly; legislation.
  • Statute of Frauds

    A federal act that requires certain kinds of contracts be memorialized and signed in writing with sufficient content to evidence the contract. Examples include sales of goods over $500 (not services); promises to pay the debt of another; sales of land or interest in land; agreements with a duration of more than one year; agreements in consideration of marriage.
  • Statutory Law

    The written law established by enactments of government that express the will of the legislature. While a statute refers to written law, common law refers to unwritten law. Statutes are written at all levels of government.
  • Stock

    An item maintained on hand in a supply system to meet future needs. May be held in an inventory control system and issued on demand.



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