Dictionary of Procurement Terms

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

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Search Results: 1-10 of 121 results for “B”

  • B2B (Business to Business)

    Relationships, applications, marketing, and sales, often in large volume, that a business conducts with another business. B2B interactions often take place via the Internet.

  • Back Order

    1. The portion of an order that a supplier does not deliver at the scheduled time and has re-entered for shipment at a later date. 2. Items ordered but not shipped due to insufficient inventory or some other reason.

    See Also: Partial Shipment/Delivery

  • Back-Door Buying or Selling

    1. Unofficial, irregular, or devious buying or selling, usually resulting from undue efforts to induce preference for a particular supplier with the intent of limiting competition; unauthorized actions. 2. A direct marketing/sales effort to induce preference on the part of the program manager or requestor for a particular product, service, or seller with the intent to constrain competition. 3. Evasive actions taken by the seller to circumvent the purchasing department and agency rules and regulations trying to influence or sell directly to the agency’s internal end user/client department.

  • BAFO


    See Also: Best and Final Offer (BAFO)

  • Balance of Payments

    A summary record of a country’s international economic transactions in a given period of time. The difference between the flow of money into and out of a country. (Schiller, 2000)

  • Balance of Trade

    The part of a nation’s balance of payments that deals with imports and exports. (Schiller, 2000)

  • Balance Sheet

    A financial summary of the dollar amounts of a firm’s assets, liabilities, and owner’s equity accounts at the end of an accounting period. (Business, 2002)

  • Balanced Budget

    When total public sector spending equals total government income during the same period from taxes and charges for public services. (Bishop, 2004)

  • Baldrige National Quality Award

    Named after former Commerce Secretary Malcolm Baldrige, the award honors suppliers that have achieved national excellence in quality improvement

  • Bank Reserves

    Assets held by a bank to fulfill its deposit obligations. (Schiller, 2000)