Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

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Search Results: 1761-1770 of 2469 results

  • Prime Contract

    A contract entered into by a public entity with a business entity for the purpose of obtaining supplies, services, or construction items of any kind.

  • Prime Contractor

    The business entity that has entered into a contract with a jurisdiction.

  • Principal

    One who employs an agent. A person who has authorized another to act for him/her.

    See Also: Law of Agency, Buyer, Agent

  • Principle

    A basic truth, law, or assumption; a rule or standard of behavior; a rule of conduct that derives from ethical values.

  • Priority

    The degree of precedence given to a particular item or task over other items or tasks.

  • Privacy Act

    CANADA The Privacy Act (R.S.C., 1985, c. P-21) is intended to protect the privacy of individuals with respect to their personal information by governing the Canadian federal government’s collection, retention, use, and disclosure of that information. It also provides individuals with a right of access to their personal information. (Canada, OSFI, 2013)

  • Private Carrier

    A transportation line not engaged in business with the general public.

    See Also: Common Carrier, Contract Carrier

  • Private Goods

    A commodity that benefits the individual.

  • Private Label

    A product or range of products offered by a retailer under their own name or under a brand that they own. They compete with branded goods.

  • Private Sector

    That part of an economy in which goods and services are produced by individuals and companies as opposed to the government and the non-profit sector. The ultimate aim of the private sector is to secure a profit as opposed to government and the nonprofit sector which aims to achieve other objectives.