Dictionary of Procurement Terms

Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 1-2 of 2 results for “Implied Warranty”

  • Implied Warranty of Fitness for a Particular Purpose

    A warranty that applies to an instance in which the seller—at the time of contract—has reason to believe that the buyer wants the goods for a particular purpose, and the buyer is relying on the seller’s skill or judgment to select or furnish suitable goods.

  • Implied Warranty of Merchantability

    A promise, arising by operation of law, that something that is sold will be merchantable and fit for the purpose for which it is sold. Implied warranties come in two general types: merchantability and fitness.
Advertisement
Advertisement

SUGGESTIONS FOR THE DICTIONARY

 

Is there a term missing from our dictionary?

 

Does a more concise or relevant definition apply?

 

Submit your comments/suggestions to our editorial board at dictionary@nigp.org