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Electronic Commerce (eCommerce)
The
integration of electronic data interchange,
electronic funds transfer, and similar
techniques into a comprehensive electronicbased
system of procurement functions; can
include posting Invitations for Bids (IFBs) and
Requests for Proposals (RFPs) on electronic
bulletin boards, the receipt of bids via
electronic data interchange, the notification of
awards by email, and payment via electronic
funds transfer. Also referred to as Electronic
Sourcing (eSourcing).
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Electronic Data Interchange (EDI)
The electronic
transfer and exchange of business
documents—including offers, purchase orders,
invoices, and payments—from one electronic
device to another using established technical
standards.
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Electronic Funds Transfer (EFT)
The electronic
transfer of money from one banking
institution to another over an online network.
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Electronic Procurement
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Electronic Signatures in Global and National Commerce Act (E-Sign)
Signed on June 30,
2000, by President Bill Clinton, an act that
made contracts sealed by a computer as
binding as those signed in pen and ink. Online
contracts have the same legal force as
equivalent paper contracts.
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Electronic Sourcing (eSourcing)
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Embargo
A government order that restricts the
trade of specific goods or commerce with a
specific country.
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Emergency Purchase
A purchase made as the
result of an unexpected and urgent request in
which health and safety or the conservation of
public resources is at risk. Usually, formal
competitive bidding procedures are waived,
modified, or simplified.
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Employer Identification Number (EIN)
The
number assigned to a business unit or
individual for purposes of withholding tax;
used by many purchasing entities as a
supplier identification number. In government,
entities are referred to by their FEIN (9-digit
Federal Employer Identification Number).
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Enabling Legislation
An enacted law that
provides authority to an official or entity.
