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Provensa Consulting Ltd

Registered Office:

57 London Road

High Wycombe

Buckinghamshire, HP11 1BS

Company Registration No: 08442876

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Glossary of Terms                 A to B

 

Acceptance letter 

Letter that creates an immediate binding contractual relationship between the client and the successful tenderer prior to entering into a formal contract.

 

Aggregation

Adding together the value of separate contracts for the same supply, service.

 

Appraisal 

A detailed assessment of the general capacity of a contractor, supplier or service provider to meet certain general criteria or standards.

 

Approved list 

A list approved by a Contracting Authority of potential contractors, suppliers or service providers, who have met pre-set criteria. See also ‘preferred supplier list’.

 

Audit trail 

System or paper generated evidence showing how and by whom certain processes and functions were carried out.

 

Authorised officer 

An officer of a Contracting Authority who has been nominated by the Contracting Authority to manage a contract or contracts with a contractor, supplier or service provider.

 

Award  

The issue of an order or contract to a supplier as a result of a competitive tendering/bidding process

 

BME Business 

Black and Minority Ethnic Business – A business where 51% or more is owned by members of ethnic minority groups or if there are few owners where at least 50% of the proprietors are from black or minority ethnic groups.

 

Benchmarking 

A process of measuring and comparing performance against other providers of similar services, particularly those recognised as adopting best practice.

 

Best and final offer (BAFO) 

The detailed and fully priced offer submitted by a Respondent for the contract, following the issue of the Contracting Authority’s Invitation to submit best and final offer (BAFO) Documentation.  

 

Best practice

The most effective and desirable method of carrying out a function or process derived from experience rather than theory.

 

Bid

A formal proposal to supply goods, services or works at a specified price, usually describing how the contract requirements will be met.

 

Bills of quantity 

Lists of quantities, provided by clients, against which tenderers insert their rates. The lump sum for each contract is then calculated by multiplying the quantities by the rates.

 

Brokerage 

The use of an intermediary to obtain goods/services. Brokers can provide impartial procurement/purchasing expertise and should obtain the best deal for a client.

 

Business case 

A document setting out the information a manager needs before deciding

whether to support a proposed project.

 

Business questionnaire

See 'pre-qualification questionnaire'

 

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