Terminology

No	Word	Definition
1	Bidder Conferences	These are meetings with potential sellers to make sure that all technical and contractual requirements are clear for the project and the bidding process.
2	Advertising	A tool used to increase the existing list of sellers by placing advertisements in general circulation publications, such as magazines, newspapers and other publications.
3	Qualified Sellers List	This is a list containing those sellers who are asked to submit a proposal or a quotation.
4	Proposals	These are the seller's prepared document (response) detailing how he/she is going to deliver the required product or service in terms of ability and willingness
5	Procurement Document Package	This is a set of documents which has been given to all invited sellers giving instructions for them on to respond to the proposal.
6	Weighting systems	This tool is used to quantify qualitative data to minimize the effect of personal prejudice on the seller selection.
7	Independent estimates	These are estimates prepared by the procuring organization or can have an independent estimate of the costs as a check on proposed pricing.

Terminology

No	Word	Definition
8	Screening System	This is a system establishing minimum requirements of performance for the project used basically to create a ranking for sellers from best to worst.
9	Contract negotiation	This tool is used to clarify the structure and the requirements of the contract on order to reach a mutual agreement prior to signing the contract. Objectives of Negotiation
10	Selected sellers	those are sellers who have been judged to be in a competitive range based upon the outcome of the proposal or bid evaluation
11	Contract	This is a mutually binding legal agreement that obligates the seller to provide the specified products or services and obligates the buyer to pay the seller.
12	Contract management plan	this is a document describing by whom and how the contract will be administered with respect to changes and confirmations.