Notes Other Key Definitions Table Word Definition Cite/Location Competitive A documented formal process providing Generally accepted Procurement an equal and open opportunity to bidders term and culminating in a selection based on predetermined criteria. Commodities Goods and services that are purchased, Generally accepted usually classified as a commodity code by term the type of product. Contract A legally binding agreement between the Generally accepted state and another entity, public or private, term for the provision of goods or services. Contract Planned, ongoing, or periodic activity that Generally accepted Monitoring measures and ensures contractor term compliance with the terms and requirements of the contract. Convenience A convenience contract is a contract for Contract specific goods or services, or both, that is solicited and established by the department agency in accordance with procurement laws and rules on behalf of and for use by a specific agency or group of agencies as needed from time to time. A convenience contract is not available for general use and may only be used as specified by the department. Cooperative The procurement of any goods or Purchasing services with one or more states, state agencies, local governments, local government agencies, federal agencies, or tribes located in the state, in accordance with an agreement entered into between the participants. Direct Buy A procurement that does not require a & competitive process. Emergency A set of unforeseen circumstances
Notes Other Key Definitions Table Word Definition Cite/Location Competitive Procurement A documented formal process providing an equal and open opportunity to bidders and culminating in a selection based on predetermined criteria. Generally accepted term Commodities Goods and services that are purchased, usually classified as a commodity code by the type of product. Generally accepted term Contract A legally binding agreement between the state and another entity, public or private, for the provision of goods or services. Generally accepted term Contract Monitoring Planned, ongoing, or periodic activity that measures and ensures contractor compliance with the terms and requirements of the contract. Generally accepted term Convenience Contract A convenience contract is a contract for specific goods or services, or both, that is solicited and established by the department agency in accordance with procurement laws and rules on behalf of and for use by a specific agency or group of agencies as needed from time to time. A convenience contract is not available for general use and may only be used as specified by the department. Cooperative Purchasing The procurement of any goods or services with one or more states, state agencies, local governments, local government agencies, federal agencies, or tribes located in the state, in accordance with an agreement entered into between the participants. Direct Buy A procurement that does not require a competitive process. & Emergency A set of unforeseen circumstances
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