Dictionary of Procurement Terms

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Search Results: 201-210 of 248 results for “P”

  • Prototype

    An initial version or working model of a new product or invention. Usually constructed and tested to evaluate the feasibility of a design and to identify problems that need to be corrected. Purchasing may request a prototype to evaluate prior to purchase.

  • Provisioning and Supply

    CANADIAN The process of determining requirements, initiating procurement, and providing a stock of supplies for future needs.

  • Public Agency

    A public entity subject to or created by a governmental jurisdiction.

  • Public Bid Opening

    The process of opening and reading bids at the time and place specified in the solicitation and in the presence of anyone who wishes to attend.

  • Public Entity

    A public entity subject to or created by a governmental jurisdiction.

  • Public Finance Law

    Legislative laws governing the financial activities of government or public sector organizations. (Business, 2000)

  • Public Good

    A product or service that is provided to an individual or a group of individuals for the benefit of many. (Schiller, 2000)

  • Public Law

    A general classification of law, consisting generally of constitutional, administrative, criminal, and international law, concerned with the organization of the state, the relations between the state and the people who compose it, the responsibilities of the public officers to the state, to each other, and to private persons, and the relations of states to one another. (Black's Law, Fifth Edition)

  • Public Management

    The process of planning, organizing, staffing, and executing the use of people, time, and fiscal resources for the purpose of providing goods, services, and protection valued by the citizens of the entity in response to the laws and regulations of the governing body.

  • Public Notice

    An announcement made by a public agency concerning a solicitation or other information of general public interest. Usually placed in a newspaper of general circulation, a web-site, circular, magazine, or other vehicle of general publication. Must comply with legal requirements of the jurisdiction.