Business terms

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Glossary Terms

Acknowledgment	All-or-None Bid
Award	Back Order
Bid Bond	Bid Book
Bid Opening	Bid Sample
Bill	Bill of Lading
Billing Request	Blanket Order
Bond	Brand Name
Brand Name Specification	Budget Activity Report
Budget Status Report	Buyer
Buyer's Documentation Form ("Doc Sheet")	Buyer's Market
Buyer's Stamp	Cancellation
Cash Discount	Centralized Purchasing
Certificate of Compliance	Certificate of Insurance
Certified Mail	Cleared for Payment
Commodity	Competitive Bidding
Confirming Order	Consignee
Contract	Contract
Contractual Service	Copyright
Cost Sharing	Cost Transfer Invoice
Counter Offer	Default
Defective	Discount
Discrepancy	Emergency Purchase
Employment Notice	Encumbrance
Encumbrance Adjustment	Equal
Escalation Clause	Evaluation of Bid
Expedite	Fair Market Value
Fiscal Year	Fixed Price Contract
Flowdown	Formal Bid or Offer
Freight	Gratis
Guaranty	Honorarium
Inspection Report	Invitation for Bids
Invoice	Invoice
Late Bid or Proposal	Late Charges
Lead Time	Lease
Lease-Purchase Agreement	Life-Cycle Costing
Line Item	Liquidated Damages
List Price	Lost Discount
Lowest Responsive Bidder	Multiple Award
Multiple Receiving Report	Negotiation
Net Price	No Bid
Non-responsive Bid	Nonstock Order
Not Put Through	Not to Exceed
NPT Letter	Object Code
Open Order	Option
Out of State Reciprocity	Packing Slip
Patent	Personal Services Contract
Personnel Request	Prepaid
Prepay and Add	Price
Price Agreement	Price at the Time of Delivery
Pro Forma Invoices	Procurement
Project	Proposal
Public Works Bid	Purchase
Purchase Order	Purchasing Agent
Purchasing Cycle	Purchasing Ethics
Purged Requisition	Qualified Products List
Quantity Discount	Quotation
Recap	Receipt of Goods
Refund Request	Regents Project
Registered Mail	Request for Quotation
Responsive Bidder	Rush Order
Sales Tax Exempt	Sealed Bid
Seller's Market	Service Contract
Sheltered Workshop	Short Ship
Single-Source Procurement	Small Business
Small Business Administration	Solicitation
Special Terms and Conditions	Standard Package Discount
Standing Order	Statement
Status (Check, Report, Request)	Stock Number
Stock Order	Subcontract
Subcontracting Plan	Subcontractor
Task	Terms
Terms and Conditions	Tracer
Trade Discount	Trademark
Uniform Commercial Code	Unit Price
Unit Price Extension	Vendor
Vendor Packing Slip	Verbal Order

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