Dictionary of Procurement Terms

Following the issuance of a cure notice, the time allowed for the defaulting party of a contract to resolve the specified delinquency or default.

The fall in value of a currency in a floating exchange rate system.

The conscious, deliberate downward adjustment by a country of its exchange rate.

The current sum of money assigned to a contract.

The quantity currently on hand in a warehouse or storage depot.

The return an investor expects to earn if they purchased a bond and hold it for one year.

Taxes, tolls, or duties levied upon goods that pass a frontier (generally an import duty). A customs duty is a tariff or tax on the import of or export of goods.

A private individual, association, corporation, or partnership authorized by U.S. Customs and Border Protection to aid exporters and importers in meeting government requirements for exports and imports.

A tax levied on goods and services moving into or out of a country.