Dictionary of Procurement Terms

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Search Results: 31-40 of 122 results for “I”

  • Indefinite delivery with a definite quantity


    See Also: Delivery/Indefinite

  • Indefinite Quantity (IQ) Contract

    A type of a contract that provides for the delivery of indefinite quantities, within stated limits, of supplies or services. These supplies or services are to be furnished during a fixed period, with deliveries or performance to be scheduled by placing orders with the contractor.

  • Indefinite quantity and delivery


    See Also: Delivery/Indefinite

  • Indemnification

    The agreement of a contracting party to hold the other party harmless, to secure the other party against loss or damage, or to give security for the reimbursement of the other party in case of an anticipated loss. (Black's Law Dictionary, 1990)

  • Indemnify

    1. To protect against hurt or loss; to exempt from incurred penalties or liabilities. 2. To compensate or pay for damage.

  • Independent Contractor

    A worker hired by a business or public entity to accomplish a given result who has the right to control or direct his or her own work as to the details and means by which the desired results are achieved.

  • Independent Cost Estimate (ICE)

    Generally refers to the project manager and/or consultant’s cost estimate for the pending project, which reflects anticipated project costs for budgetary funding purposes, etc.

  • Indexation

    The linking of a rate to a standard index of prices, interest rates, share prices, or similar items. This is what occurs on contracts where the pricing is tied to an index.

  • Indirect Channel

    The selling and distribution of products to customers through intermediaries such as wholesalers, distributors, agents, dealers, and retailers. (Business, 2002)

  • Indirect Costs

    Costs incurred that are not directly related to service delivery such as insurance and employee benefits. Costs that do not relate directly to performance such as overhead costs incurred in the normal course of business. (Harney, 1992)