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: 1211-1220 of 2051 results

  • Mixed Economy

    An economic system that combines both private and public enterprise in which the allocation of goods and services is based on market indicators and government directives.

  • Mobilization

    The initial efforts involved in the performance of a construction contact that involve hiring workers and moving equipment and facilities to the worksite. See also: Demobilization.

    See Also: Demobilization

  • Mock-Up

    The model of a device or item of equipment, either full-sized or built to scale, used for analysis, display, testing, or to study the details or features of a design.

  • Mode

    1. The type of average that indicates the most frequent instance of a number or happening. 2. The number in a distribution that occurs the most frequently. (Business 2000)

  • Model Number

    An identification number assigned to describe a style or class of item, such as a particular design, composition, or function by the manufacturer or distributor of that item.

  • Model Procurement Code

    See ABA Model Procurement Code for State and Local Government (U.S. law).

    See Also: ABA Model Procurement Code for State and Local Government (U.S. Law)

  • Modification

    Any written alteration to a provision of any contract accomplished by mutual agreement of the parties to the contract. See Also: Change Order.

    See Also: Change Order

  • Monetary System

    The set of government regulations concerning a country’s monetary reserves and its holdings of notes and coins. (Business 2000)

  • Monitoring

    A contract administration tool, whereby certain procedures are developed to assure the public entity that contracted services are being delivered in accordance with the terms and specifications of the contract. See also: Quality Assurance (QA).

    See Also: Quality Assurance (QA)

  • Monopolistic Competition

    A market in which there are fewer sellers of goods and services than in a pure-competition environment that sells goods and services that are similar, but not equivalent.
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