Dictionary of Procurement Terms

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Search Results: 71-80 of 82 results for “N”

  • Notary Public

    A public officer authorized to attest and certify, by signature and official seal, certain types of documents to give them credit and authenticity so they may be used as evidence and qualified for recording, and to take affidavits and deposition.

  • Notice of Award

    A written notification from the public entity to the successful bidder or proposer stating that there is an award of a contract in accordance with a bid or proposal previously submitted. Effective with receipt, the supplier or contractor shall proceed with performance. This allows work to start while the contract is printed and readied for distribution.

  • Notice of Intent (NOI)

    Public notice issued to announce the intended action of the agency to a certain supplier or service provider. Any affected or aggrieved supplier may object or appeal that intended action.

  • Notice of Intent to Award

    A written notice publicly posted prior to announcing the award of a contract to notify interested parties of the intended award and signals that the procurement file is available for their review and that the time period for protests to be submitted has begun.

  • Notice of Letting

    The public advertising of a sealed Bid Solicitation to advise the Suppliers of a potential business opportunity to do business with the agency.

  • Notice of Proposed Procurement

    A general opportunity available to suppliers to provide specified products or services. Also referred to as a Notice of Bidding Request.

  • Notice to Proceed (NTP)

    Usually used in construction, an NTP is a notification letter from the entity to the contractor that states the date on which the contractor is to begin work on the awarded project—and marks the beginning of the performance period as stated in the contract.

  • Novation

    Under common law, an agreement where a contracting party accepts a new party in place of the prior party (relieving the prior party of any further obligations). (Garner, 2004)

  • Novation Agreement

    A legal document executed by the original parties to a contract and a successor to whom interest in the contract has been transferred by one of the parties, which transfers all obligations and rights under the contract to the successor.

  • NPI


    See Also: National Purchasing Institute (NPI)