Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Electronic Commerce (eCommerce)”

  • Electronic Commerce (eCommerce)

    The integration of electronic data interchange, electronic funds transfer, and similar techniques into a comprehensive electronic-based system of procurement functions; could include the posting of Invitation for Bids (IFB) and Request for Proposals (RFP) on electronic bulletin boards, the receipt of bids via electronic data interchange, notification of award by email, and payment via electronic funds transfer. Also referred to as Electronic Sourcing (eSourcing).