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: 1-2 of 2 results for “Principal”

  • Generally Accepted Accounting Principals (GAAP)

    Uniform minimum standards for financial accounting and recording, encompassing the conventions, rules, and procedures that define accepted accounting principles.

  • Principal

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

    See Also: Law of Agency, Buyer, Agent