Speak like a buyer

Man writing in notebook
Man writing in notebook

Common procurement terminology can sometimes be confusing. Visit our newsletter each issue to learn a few common procurement words and phrases to help you speak like a buyer, or at least understand one. This edition is dedicated to specific terms to help while navigating these new situations.

Force Majeure
Definition: ​A term that excuses a party from performing its contractual obligations, often without penalty, that becomes impossible or impracticable, due to an event the parties could not have anticipated.
Example: ​An event cancellation at a hotel or conference center due to the CDC COVID-19 recommendation of no gathering larger than ten people at a time. The disease was unforeseen and not preventable when the venue was booked. The venue agrees to waive its cancellation fees.

Emergency Procurement
Definition: Emergency shall mean any situation where it is necessary that the university enter into a contract of purchase to: avoid the loss of life, health, safety, or property, respond to time limits established by a person or agency external to the university, obtain cost savings for the university where the time constraints of competitive bidding would eliminate the cost savings.
Example: ​A university building is damaged by severe weather in Lincoln, i.e. leaking roof causing major damage. Repairs are needed immediately. Contractors in the area are in high demand because weather damage is extensive city-wide. The non-competitive purchase process may be waived and in order to address the situation.

​Terms & Conditions
Definition: Standard boilerplate language that defines how parties agree to conduct business. This language includes; state statutes, federal guidelines, party policy.
Example: ​Suppliers/Contractors are required, by law, to verify their employee’s work eligibility to physically perform work in the State of Nebraska. (Neb.Rev. Stat. §§ 4-108 to 4-114 as amended)

To learn more words, visit our website: https://procurement.unl.edu/glossary