Dictionary of Procurement Terms

Price after all discounts, rebates, etc., have been allowed.

CANADIAN The amount received for the disposal of a material asset after subtracting the costs associated with completing the disposal action.

The actual weight of the contents of a container or the cargo of a vehicle.

An individual who functions specifically to aid parties in resolving controversies through alternative dispute resolution procedures.

A market segment in which buyers have specific or complex needs, requiring specialized suppliers to meet those needs. Because there are fewer suppliers, buyers may not have as many contracting advantages regarding prices, delivery, and return policy.

A response to an Invitation for Bids (IFB) stating that the offeror does not wish to submit a bid; functions to prevent suspensions from the bidders list for failure to show active interest or submit bids.