Dictionary of Procurement Terms

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Search Results: 51-60 of 80 results for “T”

  • Trade Deficit

    The amount by which the value of imports exceeds the value of exports in a given time period. (Schiller, 2000)

    See Also: Trade Surplus

  • Trade Discount

    A discount or reduction from a list price based on the position of the purchaser in the distribution channel, for example, as a distributor, retailer, or original equipment manufacturer.

  • Trade Secret

    Trade secrets consist of information and can include a formula, pattern, compilation, program, device, method, technique or process. To meet the most common definition of a trade secret, it must be used in business, and give an opportunity to obtain an economic advantage over competitors who do not know or use it. (USPTO)

    See Also: Proprietary (Information), Confidential Information

  • Trade Standard

    An understanding between buyer and seller as to the meaning of certain words, phrases, and characteristics of a given item or service that are established by agreement or general usage. (Business, 2002)

  • Trade Surplus

    The amount by which the value of exports exceeds the value of imports in a given time period. (Schiller, 2000)

    See Also: Trade Deficit

  • Trade Terms

    The broadest classification applicable to purchase transactions with reference to understandings between buyer and supplier, either as to the meanings of certain abbreviations, words, or phrases, or to customs applicable to transactions as established by agreement between the parties, or as established by general usage.

  • Trade-In Value

    The value obtained when trading one piece of equipment for another.

  • Trade-off Analysis

    An evaluation technique used to score proposals. This approach requires the evaluation team to evaluate the technical differences between proposals to determine if these differences justify paying the cost or price differential.

  • Trademark

    A trademark is a word, phrase, symbol, and/or design that identifies and distinguishes the source of the goods of one party from those of others. Unlike patents and copyrights, trademarks do not expire after a set term of years. Instead, a trademark can last forever, so long as the owner continues to use the mark in commerce to indicate the source of goods and services. (USPTO)

  • Trading Company

    A supplier that buys goods in one country and sells them to buyers in another country. (Business, 2002)