Assignment of Payment
An authorization from a
supplier that allows for their accounts
receivable to be paid to a third party.
Payments are made to the supplier’s creditor.
American Society of Testing Materials
ASTM is a global
standards development organization in which
approximately 150 committees collaborate to
develop consensus standards for multiple
industries. Thousands of ASTM standards are
used globally with the aim of improving
product quality, enhancing health and safety,
strengthening market access and trade, and
building consumer confidence. (ASTM 2020)
Atomic Digital Clock Time
The atomic digital
clock located in Fort Collins, Colorado, that is
the master clock of the United States. It
provides the precise time as the basis for all
other clock systems.
Attorney Work Product Privilege
prepared by an entity’s attorney that are
exempt from disclosure (e.g., public records
law, court orders).
The means by which an entity sells its
surplus property to the highest bidder.
An unethical practice whereby an
entity discloses information contained in one
supplier’s submission to another supplier(s),
with the intent that the latter supplier(s)
may use that information to improve
A formal examination or verification of
financial accounts or other business
operations by internal staff or independent
experts, concluding with a detailed report that
may also include a management letter or
findings. Examples include compliance,
financial, and performance audits.
The right to perform certain acts or
prescribe rules governing the conduct of
others. (Nash and Rawicz 1997)