Dictionary of Procurement Terms

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

Search the Dictionary of Terms

Search Results: 411-420 of 2469 results

  • Collaborative Relationships

    A phase in the continuum of buyer-seller relationships, whereby the interdependence and necessity of cooperation is the difference between a collaborative and transactional relationship. Lower total costs are the common result of this type of relationship. (Burt, Dobler, & Starling, 2003)

  • Collateral

    1. Anything of value that is acceptable to a lender to guarantee repayment of a loan. 2. Real or personal property pledged as security for a loan.

  • Collective Bargaining

    Direct negotiations between employers and unions to determine labor market outcomes. May include wages, benefits, security, and safety issues. Usually results in a Contract of a specified duration.

  • Collusion

    When two or more parties act together secretly to achieve a fraudulent or unlawful act. May manifest itself in the form of bid collusion when bidders secretly agree to unlawful practices regarding competitive bidding. May inhibit free and open competition in violation of antitrust laws.

    See Also: Identical Bid

  • Collusive Bidding

    A secret agreement among suppliers to control prices when submitting bids in an attempt to win contracts by illegal means or methods.

  • Combustible Liquid

    Any liquid having a flash point at or above 100ºF (37.8ºC) (U.S. DOL OSHA). May create inventory and supply management issues.

  • Command Economy

    A mode of economic organization in which key economic functions (what, how, and for whom) are principally determined by government directive. Sometimes called a centrally planned economy. (Schiller, 2000)

  • Commerce Business Daily (CBD)

    A daily publication of the United States Department of Commerce listing U.S. Government Solicitations, Contract Awards, Subcontracting leads, sales of surplus property, and foreign business opportunities.

  • Commercial Grade Product

    A product that has been designed and sold by the manufacturer to be more durable or more powerful or longer lasting or having a larger capacity in comparison to its consumer grade product counterpart; designed to meet a more demanding application or operating need or requirements, and generally costs more versus the consumer grade product. Generally, the internal product’s component parts are of a higher quality or more durable materials such as motors, bearings, metal versus plastic, which are generally not visible to the end user but result in longer product life expectancy and performance.

    See Also: Consumer Grade Product

  • Commercial Law

    Principles and rules by which rights and obligations in commercial business transactions are determined, as found in the Uniform Commercial Code. (NASPO, 2001)