Dictionary of Procurement Terms

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

Search the Dictionary of Terms

Search Results: 31-40 of 127 results for “F”

  • Federal Trade Commission Act (U.S. Law)

    Passed by the U.S. Congress in 1914, this Act established the Federal Trade Commission as an independent regulatory agency of the Federal Government empowered to enforce the Clayton Antitrust Act and the Robinson-Patman Act.

  • Federation of CANADIAN Municipalities (FCM)

    Promotes a strong, effective, and accountable municipal government.

  • Fee

    1. A sum of money paid for some service. 2. A charge or payment, usually for professional or technical services.

  • FEIN


    See Also: Employer Identification Number (EIN), Federal Employer Identification Number (FEIN)

  • FFE


    See Also: Furniture, Fixtures and Equipment (FFE)

  • FFP


    See Also: Firm Fixed Price (FFP) Contract

  • Fidelity Bond

    Insurance against losses due to the dishonesty of an employee.

  • Fiduciary Duty

    A legal duty to act solely in another party's interests. (Wex Legal Encyclopedia)

  • Fiduciary Funds

    Monies used to account for assets held in a trustee or agency capacity for others and which cannot be used to support the agency’s own programs.

  • Field Purchase Order (FPO)

    A type of purchase order with a pre-approved maximum value used to expedite the acquisition of non-recurring goods and services necessary for business operations. An FPO is used for occasional, unexpected business expenditures i.e., the breakdown of a company vehicle in the middle of a delivery trip.