Dictionary of Procurement Terms

The completion of the process of direct appeal to a governmental entity as defined by the entity’s administrative regulations.

The procurement of items that require long lead times, or are required in extraordinary quantities, in advance of the fiscal year in which the product, service, or construction is required.

Agreed upon disbursements between buyer and seller made prior to the delivery of the contracted goods or services. Payments may be for a stated amount or for a percentage of the purchase price.

The procurement of items that require long lead times, or are required in extraordinary quantities, in advance of the fiscal year in which the product, service, or construction is required.

A notice sent to the buyer advising that a shipment has been released.

To make a public announcement or legal notice of a solicitation with the goal of increasing the response and broadening the field of competition; often required by law or policy.