Dictionary of Procurement Terms

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Search Results: 21-30 of 131 results for “D”

  • Decisional Role

    A role that involves various aspects of management decision making. (Business, 2002)

  • Declared Value

    1. The monetary value placed on a shipment of goods by the shipper when delivered to the carrier. 2. The value placed upon imported goods by the importer for clearance through customs.

  • Default

    1. The omission or failure to fulfill a duty, observe a promise, discharge an obligation, or perform an agreement. (Black's Law Dictionary, 1990) 2. Failure to make scheduled payments of interest or principal on a loan, bond, or other types of debt.

  • Defect

    The absence of something that is necessary for completeness or perfection, or a deficiency in something essential to a thing’s intended or proper use. A product is defective if it is not fit for the ordinary purposes for which it is sold and used. Defects are generally of two types, latent (not apparent to the buyer by reasonable observation) and patent (a defect that is apparent on normal inspection). (Black's Law Dictionary, 1990)

    See Also: Latent Defect

  • Defects-Per-Hundred Units

    The number of defects found in any quantity of a product, divided by the total number of units, then multiplied by one hundred; the average number of defects per hundred.

  • Defense Acquisition Regulations (DAR)

    A subset of the Federal Acquisition Regulations (FAR) that directly apply to the U.S. Department of Defense (DOD).

  • Defense Data Network (DDN)

    The Defense Data Network (DDN) was a computer networking effort of the United States Department of Defense from 1983 through 1995. (Federation of American Scientists, 2000)

  • Deficit Spending

    The use of borrowed funds to finance government expenditures that exceed tax revenues. (Schiller, 2000)

  • Definiteness

    The important or material terms of an agreement that are specifically expressed. Under common law, an offer must include the important, or material, terms of the proposed agreement so that, when a party accepts the offer, a resulting agreement is enforceable. Important terms include subject matter, price, payment terms, quantity, quality, duration, and the scope of work to be done. If the parties purport to agree on a material term, but do so in a vague manner, as contrasted from omitting the term altogether, there is no agreement because it is too indefinite.

  • Deflation

    A decrease in the average level of prices of goods and services. (Schiller, 2000)

    See Also: Inflation