Dictionary of Procurement Terms

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Search Results: 221-230 of 248 results for “P”

  • Punitive Damages

    Damages that are awarded in a civil action, in addition to compensatory damages, to punish a defendant for gross or willful misconduct. Generally are not recoverable in breach of contract actions. (Garner, 2004)

  • Purchase Description

    The words used in a solicitation document to describe the requirements to be purchased; includes specifications that are attached to or made part of the solicitation.

  • Purchase Document

    CANADIAN A written or electronic document which sets out all Terms and Conditions of a purchase transaction with a Supplier.

  • Purchase Log

    A register of all requisitions received and all purchase orders issued, containing information such as requisition number, purchase order number, bid number, the supplier, commodity code or description of the material or service, and the value of the order. Generally contained in a legacy database.

  • Purchase Order

    A purchaser’s written document to a supplier formalizing all the terms and conditions of a proposed transaction, such as a description of the requested items, cost of items being purchased, delivery schedule, terms of payment, and transportation.

  • Purchase Order Change Notice

    A form documenting a change made to a purchase order.

  • Purchase Price

    CANADIAN The price quoted by a Supplier for a materiel item; may include Delivery and installation costs.

  • Purchase Requisition

    CANADIAN A request to obtain materiel or services and authority to commit funds to cover the purchase.

  • Purchase Requisition (PR)

    A document created by a requestor authorizing the commencement of a purchasing transaction. Typically will include a description of the need and other information that is relative to the transaction. May be submitted in hard copy or via eProcurement software.

  • Purchase Requisition Status

    CANADIAN A status report on a purchase requisition. Also called milestone status.