Dictionary of Procurement Terms

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Search Results: 141-150 of 174 results for “A”

  • Arbitration

    1. A process by which a dispute between parties is presented to one or more disinterested parties (arbitrators or neutrals) for a decision, whose decision the contending parties agree to accept with no further appeal process. Also known as binding arbitration. 2. The resolution of a conflict between parties by a party removed from the dispute. 3. A form of Alternative Dispute Resolution.

  • Architect

    An individual, partnership, or corporation that performs professional architectural services for the agency as an independent contractor. A registered architect is an individual that is trained in the planning, design, and oversight of the construction of buildings. To practice architecture means to offer or render services in connection with the design and construction of a building, or group of buildings, and the space within the site surrounding the buildings that have as their principal purpose human occupancy or use.

  • Architectural and Engineering (A & E) Services

    Professional services within the scope of the practice of architecture and professional engineering, as defined by the jurisdiction, usually involving research, design, development, construction, alteration, or repair of real property.

  • Archival Quality

    A characteristic of paper and paper products that enables the paper to retain a specified percentage of its original physical and appearance properties for an extended period of time under specified controlled conditions. (Business, 2002)

  • Articles of Partnership

    Legal documents that set forth the basic agreement between partners. (Garner, 2004)

  • As Is

    A Contract term describing products offered without guarantee or warranty. All risk is assumed by the purchaser without recourse to the seller.

  • As To Form

    Documents and agreements that are approved by an attorney for legal sufficiency prior to their execution while not commenting on the business merits of their contents.

    See Also: Agreement

  • Asset

    1. An amount recorded on a contractor’s balance sheet representing the value of property owned by or debts owed to the contractor. Assets may be cash, near-cash, or non-monetary. 2. The economic resources of a business. (Schiller, 2000)

  • Assignment

    Legal transfer of a claim, right, interest, or property.

  • Assignment of Payment

    An authorization from a Supplier that allows for their accounts receivable to be paid to a third party. Payments made to a Supplier’s creditor.