Dictionary of Procurement Terms

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Search Results: 131-140 of 214 results for “S”

  • Standardization of Specifications

    The process of establishing a single specification for an item, or range of items.

  • Standards (Standardization) Committee

    Generally, an internal committee consisting of cross-functional representation including procurement, end users, and other internal stakeholders impacted by the decisions of the committee. Examples of key functions and activities may include: Developing standards through a simplification process for designated products and services, establish specifications, review items to determine which items should be incorporated into a standards program, approve products for the Qualified Products List.

  • Standing

    Normally associated with judicial actions, it is the legal right of a person, company, or other legal entity to initiate a lawsuit by demonstrating to the court sufficient harm to a legally protected interest to support that party’s participation in the case. The ABA Model Procurement Code limits judicial standing in bid protest litigation, for example, generally to potential or actual contractors.

    See Also: Interested Party

  • Standing Offer

    Similar to a blanket order except it has specified quantities and specified delivery dates.

    See Also: Blanket Order

  • Standing Order

    Similar to a Blanket Order except it has specified quantities and specified delivery dates. Also see Blanket Order.

    See Also: Blanket Order

  • Stare Decisis

    A basic legal principle whereby once a decision (a precedent) on a certain set of facts has been made, the courts will apply that decision in cases that subsequently come before it embodying the same set of facts. A precedent that is binding; must be followed. (Garner, 2004)

  • Startup

    A relatively new, usually small business, particularly one supported by venture capital and within those sectors closely linked to new technologies. (Business, 2002)

  • State-Use Law (Industries)

    Laws established by state legislatures, Federal law, or executive order that establish preference for purchases from correction/prison industries.

  • Statement of Account

    A detailed listing, usually prepared by the supplier, of transactions taking place over a stated period, usually concluding with the open or unpaid balance.

  • Statement of Requirement (SOR)

    Describes the procurement deliverables. Also known as a Statement of Work (SOW).