Dictionary of Procurement Terms

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Search Results: 11-16 of 16 results for “Agreement”

  • Price Agreement

    A contractual agreement in which a purchaser contracts with a supplier to provide the purchaser’s requirements at a predetermined price.

    See Also: Open-End Contract, Requirements Contract, Blanket Order

  • Service Level Agreement (SLA)

    1. An agreement between the Application Service Provider (ASP) and the end user to determine the scope of work to be provided by the ASP. 2. An agreement between a customer and a service provider that details the level of service and the quality of the service to be provided. May be a legally binding agreement. (Business, 2002)

  • Spiraling Agreement

    A negotiation technique that begins by reaching a minimum agreement, even though it is not related to the objectives, and building bit-by-bit on this first agreement.

  • Supplemental Agreement

    Any ​contract, addendum, or modification accomplished by the mutual action of both parties.

  • Voluntary Restraint Agreement (VRA)

    An agreement to reduce the volume of trade in a specific good; a voluntary quota. An example would be an OPEC agreement to curb the production and exportation of crude oil. A critical indices for global supply managers that may have a dramatic effect on cost/price. (ISM, 2000)

  • World Trade Organization-Agreement on Government Procurement (WTO-AGP)

    Replaced the General Agreement on Tariffs and Trade (GATT) on January 1, 1996. It is a multilateral agreement to reduce trade barriers between the United States and Canada, the European Union, Japan, Korea, Israel, Norway, and Switzerland. (Business, 2002)
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