Dictionary of Procurement Terms

A seller’s right to retain possession of property until payment for the property is recovered.

document completed by an end user to record incidents of poor supplier/vendor performance. Sent to entity's procurement department for further action.

The accumulated record maintained by a central purchasing authority on a supplier/vendor, including information on the supplier's/vendor’s relationship with the purchasing authority, application for inclusion on the suppliers/bidders list, record of performance under contract, and correspondence.

A seller of goods or services whereby the exchange is solely transactional. “Supplier” is the preferred term when a longer-term or strategic relationship is involved. See also: Supplier.

A form completed by the using agency to document unacceptable vendor performance.