Glossary of purchasing terms

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Glossary of Purchasing Terms
Advanced Technology Clause An affirmation clause required on all Automated Information Systems (AIS) products. Approved Products List (APL) A list of products that have been approved prior to the bidding process that meet a defined specification. Referred to as a qualified products list. Assignments The legal transfer of a right or property. Award The act ofaccepting a bid, thereby forming a contract between the state and a bidder. Automated Term Contract A contract by which orders can be processed by the CPA computer system when the agency provides the required coded information on the Contract Purchase Requisition. Eliminates the need for the agency to describe items on the requisition. Best Interests of the State Most advantageous to the state in light ofall relevant circumstances. Bid An offer to contract with the State submitted in response to a bid invitation issued by the CPA or an issuing entity. Bid Deposit A deposit required of bidders to protect the state in the event a low bidder attempts to withdraw its bid or otherwise fails to enter into a contract with the state. Acceptable forms of bid deposits are limited to: cashier's check,certified check, or irrevocable letter of credit issued by a financial institution subject to the laws of Texas; a surety or blanket bond from a company chartered or authorized to do business in Texas and United States Treasury listed; a United States Treasury Bond; or certificate of deposit. Bid Sample A sample required to be furnished as part of a bid, for evaluating the quality of the productoffered. Bid Tabulation The recording of bids and bidding data for purposes of bid evaluation and record keeping. Bidder An individual or entity that submits a bid. The term includes anyone acting on behalf of the individual or other entity that submits a bid, such as agents, employees, and representatives. Bidder Affirmation Clauses Bidder affirms by signature on the Invitation for Bid (IFB) compliancewith seven affirmations required by Texas Government Code. 196

Biennial Period Occurring every two years. Biennium (State of Texas) A period of 24 consecutive months, beginning on September 1 of each odd numbered year. Example: September 1, 1997 through August 31, 1999. Blanket Bond A performance bond which insures a bidder's performance on two or more contracts in lieu of separate bonds foreach contract. The amount for a blanket bond shall be established by the CPA and contracting entities based on the bidder's annual level of participation in the state purchasing program. Acceptable forms of blanket bonds are those described in the definition of bid deposit. Blanket Order A purchase order with a vendor for a specified time period, specific commodity, and an estimated quantity to bedelivered as requested. Use of minimum call out quantities is advised for this type of order. Brand Name A trade name or product name which identifies a product as having been made by a particular manufacturer. Cash Discounts A discount offered for paying cash at time of purchase. Centralized Master Bidders List (CMBL) A list maintained by the CPA containing the names and addresses of prospectivebidders Certification State agency personnel completing the required training and continued education program will have certified purchasing authority to approve purchase orders on behalf of the State of Texas and their prospective agency. Class and Item The classification system found in the CPA Commodity Book that identifies items and services. Commodity Supplies, materials or equipment listedfor commodity class and item numbers 005 through 900. Commodity Book Published by the CPA which contains class and item numbers. Competitive Bidding The process of inviting and obtaining bids from competing sources in response to advertised competitive specifications, by which an award is made to the lowest and best bidder meeting the specifications. The process contemplates giving potential...