Bid – a competitive price offer made by an intended seller, often in response to an Invitation to Bid.
Bid opening – the act of publicly opening the bid envelopes at a specified date and time.
Change order – written modification or addition to a purchase order or contract.
Contract – a signed agreement entered into for the procurement of capital improvement, materials, supplies, equipment, or services that obligates either or both parties to specific terms.
Contract administration – the process of enforcing the terms of a contract through such actions as evaluating performance and progress, monitoring contract deliveries, inspections, approval of payments and closeout. Contract administration is an important part of the procurement process.
Contractor – someone that sells a service or a service with goods. A contractor has a relationship defined by a contract.
Cooperative purchase – a purchasing contract entered into by at least one governmental entity and a contractor that is available for use by additional governmental entities.
Cost Center Manager – an individual who oversees a particular budget area or cost center. This individual develops the budget, monitors all expenditures in the budget, and ensures that all expenditures are made within the budget line item limits.
Document – any form or similar type instrument that requires official approval prior to processing. This is often a quote or proposal from a Contractor that requires acceptance by the college.
Equal Business Opportunity (EBO) – small, disadvantaged, minority, and women-owned enterprises as defined in section 11-148(a) of the State Finance and Procurement Article of the Annotated Code.
Emergency Procurement – the ability to make a purchase without following the normal purchasing procedure in order to obtain goods or services quickly in an emergency.
Invitation to Bid – a formal solicitation issued for the purchase of any building, improvement, equipment or supplies that is reasonably expected to cost more than $25,000, and specifications can be prepared to award based primarily on price.
Percentage price preference – the percent by which a responsive bid from a responsible bidder may exceed the lowest responsible bid submitted by a responsible bidder.
Procurement – acquiring commodities, services, or construction. This includes purchasing, renting, or leasing, as well as all functions that pertain to the acquisition, such as description of requirements, selection and solicitation of sources, preparation and award of contract, and all phases of contract administration.
Purchase order – the primary contract by which the college enters into agreements for the procurement of capital improvement, commodities, equipment, or services. The document shows all terms and conditions of the purchase.
Request for Proposals (RFP) – a solicitation for proposals based on a scope of services defined by the college. The award is based on the results of an evaluation that includes the technical as well as cost aspects of the contract to be awarded.
Small procurement – means a purchase or cumulative purchase that is expected to be less than $25,000, as defined in the State Procurement Regulations, Title 21 of the Code of Maryland Regulations (COMAR).
Specification – a clear, concise, and accurate description of the functional characteristics or nature of the product or service being procured. Specifications must be written in a manner that is not restrictive to foster competition.
Solicitation – the advertisement of a purchase for the purpose of receiving bids or proposals.
Vendors – someone that sells either services or goods. Vendors are distinguished from other sellers in that they do not have a specific relationship with the college.
Policy Manual Review/Revision: 07/01/10