Dictionary of Procurement Terms

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Search Results: 61-70 of 88 results for “L”

  • Liquidity

    The ability of an asset to be converted into cash. (Schiller, 2000)

  • Liquidity Ratios

    Ratios that measure the speed with which a company can turn its assets into cash to meet short-term debt. (Schiller, 2000)

  • List Price

    The published price of a product or service offered by the seller for sale to potential buyers. Due to competition in the marketplace, the list price may be subject to price discounting. If there is limited competition or strong demand, the price may rise. (Business, 2002)

    See Also: Administered Price

  • LISTSERV

    An automatic mailing list server targeting a specified group. When email is addressed to a LISTSERV mailing list, it automatically broadcasts to everyone on the list.

  • Litigation

    One party to a contract bringing suit against the other party in a court of law.

    See Also: Alternative Dispute Resolution (ADR)

  • Living Wage

    A subsistence wage; a wage sufficient to provide the necessities and comforts essential to an acceptable standard of living. (Merriam-Webster)

  • LLC


    See Also: Limited Liability Company (LLC)

  • Loan

    CANADIAN The authorized issue of materiel on condition that it be returned, normally after a specified period of time and subject to agreed upon conditions.

  • Local Preference


    See Also: Tie Bid Preference, Buy Local, Preference

  • Local Public Procurement Unit

    Any county, city, town, school district, special authority, or any other subdivision of the state, or public agency of any such subdivision, or educational, health, or other institution spending public funds for the procurement of services, supplies, or construction.