The added value that results when a
supplier makes a good or service available at
a convenient or desirable time for customers.
Time Value of Money
The concept that an
amount of money is worth more now than the
identical sum would be worth in the future,
based on the financial principle that money
can earn interest.
transport service that comes with different
unique options, such as special handling and
The instrument or document whereby
ownership of property is established.
A perfunctory offer submitted by a
bidder with no serious intent of being the
lowest bidder, usually submitted when the
bidder wishes to maintain eligibility on the
bidders list, or as a collusive device.
A specified allowance for variation in
weight, size, or other designated
measurement; the range of allowable
deviation within which an item or service is
classified as acceptable.
A civil wrong that causes a party to suffer
harm or loss, thereby creating a legal liability
on the party causing that harm or loss.