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: 1961-1970 of 2051 results
  • Unnecessarily restrictive

    A term used when specifications or terms and conditions limit competition arbitrarily, without reasonably promoting the fulfillment of the procurement needs of a contracting authority.
  • Unsolicited Offer

    An offer submitted by a contractor/supplier or consultant in the absence of a bid or solicitation from a buyer. May be submitted in response to a perceived need but not in response to a buyer’s formal request.
  • Unstable Market

    Market that exhibits short-term fluctuations. Oil, minerals, agricultural products, and animal by-products typically dominate this type of market. The supply of these raw materials is frequently influenced by political forces, weather conditions, speculative financial actions, and other unpredictable reasons not governed by the laws of supply and demand.
  • Unsuccessful Bidder

    A supplier whose bid was not accepted for reasons of price, quantity, or failure to comply with specifications.
  • UPC

  • Upgrade

    To improve the functionality or increase the value of equipment or services.

  • Usage

    The quantity of an inventory item consumed over a period of time expressed in units of quantity or of value in dollars.
  • USC

  • Use Tax

    A tax imposed on a user of goods.



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