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: 21-30 of 69 results for “O”

  • OMB Circular A-102

    “Grants and Cooperative Agreements with state and local governments.” This Circular establishes consistency and uniformity among federal agencies in the management of all federal cooperative agreements and grants with state and local governments. The 1988 version revised the 1981 version and rescinded Attachments A through P of the Circular.

    See Also: Uniform Administrative Requirements for Grants in Aid to States and Local Governments

  • OMB Circular A-110

    “Uniform Administrative Requirements for Grants and Agreements with Institutions of Higher Education, Hospitals, and other Non-Profit Organizations.” Issued by the Office of Management and Budget (OMB), this Circular governs the administration of purchases made by institutions of higher education, hospitals, and other non-profit organizations with federal funds.

  • On Order

    CANADIAN The quantity of stock represented by the total of all outstanding replenishment orders that have been requested from stock, but not yet delivered or received.

  • One Hundred Percent (100%) Inspection

    Inspection of every unit of product, each of which is accepted or rejected individually for the characteristics inspected.

  • Online Transaction Processing

    Processing of transactions that occurs interactively between the system and the end user. (IBM)

  • Open Account Purchase

    A purchase by a buyer who has established credit with the supplier, payment for which is to be made at some future date, in accordance with terms agreed to when the account was established.

  • Open Bidding Service (OBS)

    CANADA An online electronic bulletin board and bid document request system that gives suppliers flexible and open access to government procurement opportunities.

  • Open Insurance Policy

    A form of insurance covering shipments for a specified time, or a stated value, and not limited to a single shipment; the premium is determined based on values reported.

  • Open Market Operations

    Federal Reserve purchases and sales of government bonds for the purpose of altering bank reserves. (Schiller, 2000)

  • Open Market Purchase

    A purchase, usually of a limited monetary amount, from any available source.
  • 1
  • 2
  • You're on page 3
  • 4
  • 5
  • 6
  • 7