Dictionary of Procurement Terms

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Search Results: 51-60 of 214 results for “S”

  • Set-Aside

    An acquisition or procurement exclusively or partially reserved for the participation of small or minority business concerns or a special class of contractors.

    See Also: Goals, Contract Goals

  • Set-Off

    An agreement between two parties to balance one debt against another or a loss against a gain. May be used in construction contracting to minimize the cost of change orders or other unanticipated costs.

  • Set-Up Cost

    The cost incurred to change machine tooling or to change the production line to produce a different item or product.

  • Settlement Conference

    Involves a pre-trial conference conducted by a settlement judge or referee and attended by representatives for the opposing parties to reach a mutually acceptable settlement of the matter in dispute.

  • Shall

    Denotes the imperative in contract clauses or specifications.

    See Also: May

  • Shared Services

    An intergovernmental agreement for the provision of goods or services that is commonly used by two or more entities. The agreements are commonly created to address economic and logistical needs in an effective and efficient manner. Example: Municipal town agreement allows multiple towns’ residents access to an EMS (Emergency Medical Services) station that is shared across organizations.

    See Also: Intergovernmental Contract

  • Shareware

    Software that a user is permitted to download and use for a trial period, after which the user is asked to pay a fee to the author for continued use. (CompuServe, Inc. v. Patterson, 89 F.3d 1257, 1260 (6th Cir. 1996))

    See Also: Freeware

  • Sharp Practices

    The term typically is illustrated as evasion and indirect misrepresentation, just short of actual fraud. Unscrupulous practices that focus on short-term gains and ignore the long-term implications for a business relationship.

  • Shelf Life

    The length of time that an item of supply can be stored under specified environmental conditions and continue to remain suitable for its intended use.

  • Sherman Antitrust Act (U.S. Law)

    Passed by Congress in 1890, it prohibits contracts and conspiracies in restraint of trade, conspiracies to monopolize trade, and attempts to monopolize. The act makes price fixing, bid rigging, territorial market allocation, and some types of tying arrangements and boycotts illegal. (Business, 2002)

    See Also: Price Fixing, Tying Arrangement, Clayton Act (The Clayton Anti-Trust Act) (U.S. Law)