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: 181-190 of 248 results for “P”

  • Progressive Tax System

    A tax system in which taxes get higher for wealthier residents; it’s the opposite of a regressive tax system. Sometimes referred to as a “graduated” tax system. (Business, 2002)

  • Prohibited Articles

    Articles that will not be handled, as listed in transportation carrier’s tariffs.

  • Project Approval Effective

    CANADIAN Approval based on reliable and up-to-date cost estimates, which provides authority to proceed with a project or complete it in those instances where there is already a preliminary approval, and spend all project funds, based on a specific budget in constant and current (budget-year) dollars.

  • Project Approval-Class Estimate

    CANADIAN Four types, A,B,C,D, defined as follows: Class Estimate A- based on working drawings and specifications and other significant conditions of production/construction. Class Estimate B- based on the design of major systems and sub-systems as well as all site/installation investigations. Class Estimate C- based on the general description of the end item, production/construction experience, and market conditions. Class Estimate D- based on a comprehensive statement of requirements in mission terms and an outline of potential solutions.

  • Project Approval-Preliminary

    CANADIAN Approval based on Class C Estimates, which provides authority to initiate a project as the preferred option for fulfilling a justified need, and spends only those funds necessary to cover such activities as concept and preliminary design and to develop at least a Class B Estimate.

  • Project Duration

    CANADIAN Duration of time from project announcement to completion.

  • Project Manager

    Designated individual within the agency to administer a specific task or contract.

  • Promissory Estoppel

    A legal doctrine binding a person to a promise when another party has relied on the promise to its detriment and the person making the promise could have reasonably foreseen the reliance. (Nash, Schooner, & O’Brien, 1998)

  • Promissory Note

    An unconditional written promise to pay a certain sum in money, on demand, or at a fixed or determinable future date, either to the bearer or to the order of a designated person.

  • Prompt Payment Act

    This law provides requirements to government procurement offices that ensure that federal contractors supplying goods and services are paid on time and within agreed upon payment terms. Many states and local governments have enacted similar laws.