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Depreciation
1. An accounting term that denotes a loss or
decrease in acquired value over a specified
time period. Usually applies to the loss of
value of a fixed asset (e.g., capital
equipment).
2. The systematic transfer of the cost of a capital
expenditure (an asset on the balance sheet)
to an expense (on the income statement).
3. To diminish in price or value.
4. The consumption of capital in the production
process.
5. The wearing out of plant and equipment over
a specified time period.
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Descriptive Literature
Information, such as
charts, illustrations, brochures, and technical
data, furnished by an offeror on request as
part of an offer to describe the items offered.
The information describes the characteristics
or construction of a product or explains its
operation to determine the acceptability of
the item.
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Design Deficiency
A condition that prevents a
product from being useful, the correction of
which would require a design change.
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Design Specification
A type of specification that
establishes the characteristics an item must
possess, including details indicating how it is
to be manufactured. A design specification
may include engineering plans or drawings
and blueprints. It states to the contractor in
prescriptive terms what the contractor must
provide to the buyer. See also: Performance
Specification.
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Design-Bid-Build
The traditional project delivery
method, which customarily involves three
sequential project phases: design,
procurement, and construction, and two
distinct contracts for the design and
construction (build) phases.
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Design-Build
A construction project delivery
method that combines architectural and
engineering design services with construction
performance under one contract.
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Design-Build-Finance-Operate
1. An Alternate Project Delivery Method (ADPM)
demonstrating a design-build concept
whereby the owner and designer/contractor
work as a team to ensure that the owner’s
requirements are met during design and
construction.
2. A complex and innovative approach
developed through public-private partnerships
in which there is much greater involvement of
private financing and that often combines
construction and management or operations
contracts.
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Designation of Special Purpose
A designation
that identifies items created by the
modification of standard commercial products
to meet special needs, such as equipment
modified to meet the needs of the physically
challenged.
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Designee
A duly authorized representative.
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Destination
1. The place to which a shipment is consigned.
2. The final delivery point to which a shipment is
routed.
3. A delivery point whereby title passes from
seller to buyer.
