Dictionary of Procurement Terms

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Search Results: 81-90 of 131 results for “D”

  • Discount

    An allowance, reduction, or deduction from a selling price or list price extended by a seller to a buyer in order for the net price to become more competitive. More common forms of discounts include trade discounts, quantity discounts, seasonal discounts, and cash discounts.

    See Also: Payment Terms, Prompt Payment Discount, Cash Discount

  • Discount Rate

    The interest rate that the Federal Reserve System charges for loans to member banks. (Schiller, 2000)

  • Discount Schedule

    A listing of various discounts offered to the buyer for varying amounts of goods or services. May be requested as part of a solicitation.

  • Discount-From-List

    Mathematical calculation to determine the buyer’s price from a manufacturer’s price list. On non-automated term contracts, the manufacturer must submit a printed price list/catalog from which prices are to be figured. Prices in this category cannot be increased for a specified time after the contract begins, unless otherwise noted in the contract.

  • Discrepancy

    1. A deviation between the contract or purchase order and the material or services received or delivered. 2. A variance or difference in identification, condition, or quantity between the supplies or services delivered and the contracting documents.

  • Discretion

    A power or right, conferred on procurement officers by law, to act officially in certain circumstances, according to the dictates of their own judgment and conscience and uncontrolled by the judgment or conscience of anyone else. (Black’s Law Dictionary, 1990)

    See Also: Best Interest

  • Discretionary Fiscal Spending

    Those elements of the federal budget not determined by past legislative or executive commitments. (Nash et al., 2007)

  • Discretionary Income

    Disposable income less savings and expenditures on food, clothing, and housing. (Schiller, 2000)

  • Discriminatory Price

    A pricing scenario in which a supplier offers similar or identical items for sale, in identical quantities, at different prices to different buyers. (Business, 2002)

  • Discussions

    Formal or informal communication involving an oral or written exchange of information.