Glossary
There are currently 3 terms in this directory beginning with the letter P.Procurement Policy Board
An agency of the State of Illinois with the authority and responsibility to review, comment upon and recommend, consistent with the Code, rules, and practices governing the procurement, management, control, and disposal of supplies, services, professional or artistic services, construction and real property and capital improvement leases procured by the University.
Proposal
An offer made by one party to another as a basis for negotiations for entering into a contract; the response to a Request for Proposal.
Purchase Order
A purchase order is a legal document used by the university, authorizing a supplier to provide a product or service to the institution. It is a type of contract. The document used to formalize a purchase transaction with a vendor. A purchase order, when given to a vendor, may contain statements as to the quantity, description, and price of the goods or services ordered; agreed terms as to payment, discounts, date of performance, transportation terms, and all other agreements pertinent to the purchase and its execution by the vendor.
Procurement Policy Board
An agency of the State of Illinois with the authority and responsibility to review, comment upon and recommend, consistent with the Code, rules, and practices governing the procurement, management, control, and disposal of supplies, services, professional or artistic services, construction and real property and capital improvement leases procured by the University.
Proposal
An offer made by one party to another as a basis for negotiations for entering into a contract; the response to a Request for Proposal.
Purchase Order
A purchase order is a legal document used by the university, authorizing a supplier to provide a product or service to the institution. It is a type of contract. The document used to formalize a purchase transaction with a vendor. A purchase order, when given to a vendor, may contain statements as to the quantity, description, and price of the goods or services ordered; agreed terms as to payment, discounts, date of performance, transportation terms, and all other agreements pertinent to the purchase and its execution by the vendor.