Dictionary of Procurement Terms

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  • Net Stock Position

    CANADIAN The current on-hand balance of inventory.

  • Net Weight

    The actual weight of the contents of a container or the cargo of a vehicle.

  • Net Worth

    The amount stated on a company’s balance sheet when liabilities are subtracted from assets. This amount provides a rough appraisal of the amount of money a company has retained in its business, and thus gives an indication of the financial capability of the company. It is used in making the determination of whether the company is a responsible contractor. (Nash et al., 2007)

  • Neutral Advisor

    An individual who functions specifically to aid parties in resolving controversies through alternative dispute resolution procedures.

  • New York Mercantile Exchange (NYMEX)

    A stock exchange resident in New York City that is self-regulated, but must comply with the regulations of the U.S. Securities and Exchange Commission. (Ferrell & Hirt, 2002)

  • Niche Market

    A very specific market segment within a larger market. It may involve very specialized goods or services with very few, if any, competitors. The niche market may be characterized by exclusiveness or a particular differentiating feature that makes it unusual or unique. (Business, 2002)

  • NIGP


    See Also: National Institute of Governmental Purchasing (NIGP)

  • NIGP Commodity/Service Code


    See Also: National Institute of Governmental Purchasing Commodity/Service Code

  • NIMLO Model Code


    See Also: National Institute of Municipal Law Officers (NIMLO) Model Code

  • NIST


    See Also: National Institute of Standards and Technology (NIST)