Dictionary of Procurement Terms

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Search Results: 1-3 of 3 results for “Discretion”

  • Discretion

    A power or right, conferred on procurement officers by law, to act officially in certain circumstances, according to the dictates of their own judgment and conscience and uncontrolled by the judgment or conscience of anyone else. (Black’s Law Dictionary, 1990)

    See Also: Best Interest

  • Discretionary Fiscal Spending

    Those elements of the federal budget not determined by past legislative or executive commitments. (Nash et al., 2007)

  • Discretionary Income

    Disposable income less savings and expenditures on food, clothing, and housing. (Schiller, 2000)