A revision or change to a document typically used to change an existing contract.
Award
The presentation, after evaluation, of a purchase order and/or contract to the selected bidder or proposer.
B
Back Order
A portion of an order that the supplier cannot deliver on schedule and will be re-entered for shipment when available.
Best and Final Offer
The final proposal, submitted after negotiations are completed, which contains the most ideal pricing terms for services or products.
Bid Opening
The formal process in which sealed bids are opened at the time and place specified in the solicitation document.
Bid Sample
An item furnished by a supplier to show the characteristics of the item offered in the bid.
Brand Name or Equal Specification
Using one or more manufacturers’ brand names, with identifying model numbers, to describe the standards of quality, performance, and other characteristics needed to meet the requirements of a solicitation, and to invite bids for equivalent products from any manufacturer.
Any outside activity or interest that may, or may appear to, adversely affect, compromise, or be incompatible with the obligations of an employee at 51³Ô¹ÏºÚÁÏ.
Construction
A general term used to include all work required to build, improve, alter, repair, maintain, or demolish any public building, road, sidewalk, or other real property structure.
Contract
An agreement between parties, with binding legal and moral force, usually exchanging goods or services for money or other consideration.
Cost Analysis
The review and evaluation of cost data for the purposes of arriving at costs incurred or estimates of costs, prices to be paid, and costs to be reimbursed.
D
Debarment
The exclusion of a supplier from participating in a procurement activity for an extended time because of previous illegal or irresponsible action.
Descriptive Literature
Information available in the ordinary course of business that shows the characteristics, construction, or operation of an item offered in a bid or proposal.
Discussions
An oral or written exchange to obtain information essential for determining the acceptability of a quote or proposal, or to provide the supplier an opportunity to revise its proposal.
E
Emergency Purchase
A purchase made under certain conditions to alleviate a situation that does not allow time for normal competitive purchasing procedures.
Escalation Clause
A contract provision that permits the adjustment of contract prices by a given amount or percentage if certain specified contingencies occur, such as changes in the contractor’s raw material or labor costs.
Evaluation Criteria
The factors specified in a solicitation that will be considered in determining the awarded supplier.
F
Fiscal Year
The 12-month period (July 1 through June 30) between one annual settlement of financial accounts and the next; used for budgeting, financial reporting, and planning.
FOB (Free on Board)
The shipping designation that defines the point of title transfer from seller to buyer. Designation is usually qualified by naming a location, i.e., shipping point, destination, name of city, etc.
I
Informal Quotation
A written competitive bid or price quotation for goods or services that does not require a sealed bid, public opening, or public reading of bids.
Invitation for Bid (IFB)
A formal request to prospective suppliers soliciting bids.
Invitation to Quote (ITQ)
An informal solicitation where written quotes are obtained from contractors without formal advertising or receipt of sealed bids.
L
Lead Time
The time from the date goods or services are ordered to the date they can be delivered.
Lowest Responsive and Responsible Bidder
The bidder that submits its bid at the lowest price, and whose past performance, reputation, and financial capability are deemed acceptable.
M
Multiple Awards
The award of a contract to two or more suppliers to furnish the same or similar goods or services.
N
Nonresponsive Bid
A bid that does not conform to the mandatory or essential requirements of the invitation for bid.
Notice of Award
A written notification from the university to the successful bidder or proposer stating that there is an award of a contract in accordance with the bid or proposal submitted.
O
Open-End Purchase Order
A purchase order that sets forth the general provision of supplies and services that may be delivered within a given time, typically in a fiscal year, but in which quantity and/or delivery is not specified. The quantity and delivery are specified with the placement of orders against the open-end purchase order.
P
Prebid/Preproposal Meeting
A meeting held with prospective bidders or proposers to clarify any ambiguities, answer questions, and ensure all bidders or proposers have an understanding regarding the supplies or services required.
Procurement
Buying, purchasing, renting, leasing, or otherwise acquiring any materials, services, or construction. Procurement also includes all functions related to developing requirements, selection, and solicitation of sources, preparation, and award of contract, and contract administration.
Proposer
A company or individual that submits a proposal in response to a solicitation.
Purchase Order
A legal document used to formalize a purchase transaction with a supplier.
Purchase Requisition
An internal request from a department for the procurement of materials, services, or construction.
Purchasing Analyst
Any person duly authorized by the executive director of Purchasing and Contracts to perform the procurement duties and responsibilities outlined in their job description and within the limits of that authority.
R
Request for Information (RFI)
Solicitation issued to prospective suppliers to obtain information about how they propose to perform certain work. Not used to obtain price information.
Request for Proposal (RFP)
A formal request to prospective suppliers soliciting proposals for goods or services.
Request for Qualifications (RFQ)
A formal request to solicit information on a supplier’s qualifications to meet the needs of a project.
S
Services
The furnishing of labor, time, or effort by a supplier.
Sole-Source Procurement
A good or service supplied by a company having the exclusive right to manufacture and sell an item or service, substantiated by its technological, specialized, or unique characteristics.
Solicitation
An Invitation for Bid, Request for Proposal, Request for Qualifications, Invitation to Quote, Request for Information, or any other invitation or request by which the university invites a company to participate in a procurement process.
Specification
Any description of the physical or functional characteristics of the nature of a material, service, or construction item. Examples of designated types of specifications:
Brand-name: Limited to one or more items by manufacturers' names or catalog numbers.
Design: Physical characteristics in definitive terms.
Functional: Specific operational action or results for which it is to be used.
Performance: Capacity objective that has been determined necessary for the item involved.
Supplier
Any company that sells goods or services.
U
Unit Price
A price that the supplier is paid for the selected unit for materials or service, e.g., pounds, each, hour, etc.