Dictionary of Procurement Terms

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  • Acceptable Products List (APL)

    A pre-approved list of products, usually grouped by manufacturer, that have proven to be in conformance with developed specifications and standards. The list may result from performance testing of the product or as a result of field testing or laboratory analysis. Also see Qualified Products List (QPL) and Approved Brands List (ABL).
  • Acceptable Quality Level (AQL)

    1. The specified minimum performance that must be achieved by a good or service to assure the entity that the good or service will perform as per the specifications or scope of work. 2. A predetermined quality level which has been deemed as being acceptable, generally used in the manufacturing of material items. Example: AQL of 1% defective rate is acceptable for this item.
  • Acceptance

    1. Indication that all parties to the contract agree to be bound by the terms of the contract. 2. An indication by one party of a willingness to act in accordance with the contract or offer. 3. The assumption of a legal obligation by a party to a contract, and to the terms and conditions of that contract. 4. The act of receiving the good or service by an authorized representative with the intention of approving the good or service for payment. May include transfer of title.
  • Acceptance of Offer

    The agreement of the Supplier to deliver the goods ordered for the price offered.
  • Acceptance of Order

    The agreement of the purchaser to an offer submitted by a Supplier.
  • Acceptance Sampling (Acceptance Testing)

    A quality control technique used to evaluate the overall condition of a given lot by physically inspecting a portion or sample of the lot.
  • Accessorial Transportation Charges

    The costs that a carrier may charge in addition to the actual freight transportation charge such as inside delivery, interim storage, and redelivery charges. (ISM Glossary, 2000)
  • Account

    A list or enumeration of monetary transactions between parties to a contract showing purchases, payments, and credits for goods or services.
  • Accountability

    The principle that employees who accept an assignment and the authority to carry it out are answerable to a superior or a higher authority for the outcome. (Business, 2002)
  • Accountable

    The concept that a person is obliged to give a reckoning or explanation for one’s actions; responsible. Also see Accountability.