Glossary of Commonly Used Procurement Terms

Source Key:
ApB - Appendix B, General Specifications
PG - Procurement Council Guidelines
SFL - State Finance Law Article XI
WBS - OGS/NYSPro website
WBST - OGS/NYSPro website/Technology Guidelines

Statewide Term Contract:   A Statewide Term Contract is a term contract open to all State agencies, political subdivisions, and all others authorized by law to participate. Though the bid document may define or limit authorized contract users, the norm calls for the broadest possible participation. (WBS) Using an Invitation for Bid (IFB) or a Request For Proposal (RFP) The decision as to which procurement method or model to use is at the discretion of the procuring agency. Generally speaking, less complex procurements for commodities, services and/or technology should use an IFB and more complex procurements should use a RFP. (PG)
Technology:  Technology is defined as a good or a service or a combination thereof, that results in a technical method of achieving a practical purpose or in improvements in productivity. Technology may be new or used. (PG) "Technology" means either a good or a service or a combination thereof, that results in a technical method of achieving a practical purpose or in improvements in productivity. Goods may be either new or used. (SFL)
Term Contract:   A Term Contract is any contract covering purchases made during a specified time period. (WBS)

Pages