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Procuring entity.<\/strong> Procuring entity is the term for the organization that is initiating or taking on the responsibility of procurement.eg.State TB Officer, DTO.<\/li>\n\t
Proposer. <\/strong>Any eligible person, organization, or consortium (an association of several organizations) participating in a procurement process as bidders, vendors, service providers, or agencies is known as a proposer. This can include both for-profit and not-for-profit organizations. Terms such as \u2018agencies\u2019 or \u2018service providers\u2019 may also be used interchangably with proposers.<\/li>\n\t
Performance security\/guarantee. <\/strong>This is a deposit taken only from the agency that has been awarded the contract. This is also called the Performance Bank Guarantee (PBG) and is meant to ensure due performance of the contract. <\/li>\n<\/ul>\n"},"subContentId":"d88c1201-08f3-4474-98c3-8643c334c4dd","metadata":{"contentType":"Text","license":"U","title":"Untitled Text"}},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""},{"x":50.10893246187364,"y":2.150537634408602,"width":46.84095860566449,"height":94.62365591397848,"action":{"library":"H5P.AdvancedText 1.1","params":{"text":"
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Bid security.<\/strong> Also called (Earnest Money Deposit) EMDs, this is a deposit taken from all agencies bidding for the project. It is meant to\n\t
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safeguard against a bidder withdrawing or altering its bid during the bid validity period.<\/li>\n\t\t
serve as a \u2018filtering mechanism\u2019, ensuring that applications only come from bidders who have the capacity to participate in the bidding process and, once the contract is awarded, deliver the project needs according to the RFP\/contract terms.<\/li>\n\t<\/ul>\n\t<\/li>\n\t
Advance Payment.<\/strong> This is an advance payment to made to the agency by the procuring body to kickstart the operations. This is given against some guaranteeof the agency\u2019s financial viability to return the advance payment in case the services are not delivered according to satisfaction.<\/li>\n<\/ul>\n"},"metadata":{"contentType":"Text","license":"U","title":"Untitled Text"},"subContentId":"a997caa5-7e45-413d-baff-0bd05753801a"},"alwaysDisplayComments":false,"backgroundOpacity":0,"displayAsButton":false,"buttonSize":"big","goToSlideType":"specified","invisible":false,"solution":""}],"slideBackgroundSelector":{}}],"keywordListEnabled":true,"globalBackgroundSelector":{},"keywordListAlwaysShow":false,"keywordListAutoHide":false,"keywordListOpacity":90},"override":{"activeSurface":false,"hideSummarySlide":false,"summarySlideSolutionButton":true,"summarySlideRetryButton":true,"enablePrintButton":false,"social":{"showFacebookShare":false,"facebookShare":{"url":"@currentpageurl","quote":"I scored @score out of @maxScore on a task at @currentpageurl."},"showTwitterShare":false,"twitterShare":{"statement":"I scored @score out of @maxScore on a task at @currentpageurl.","url":"@currentpageurl","hashtags":"h5p, course"},"showGoogleShare":false,"googleShareUrl":"@currentpageurl"}},"l10n":{"slide":"Slide","score":"Score","yourScore":"Your Score","maxScore":"Max Score","total":"Total","totalScore":"Total Score","showSolutions":"Show solutions","retry":"Retry","exportAnswers":"Export text","hideKeywords":"Hide sidebar navigation menu","showKeywords":"Show sidebar navigation menu","fullscreen":"Fullscreen","exitFullscreen":"Exit fullscreen","prevSlide":"Previous slide","nextSlide":"Next slide","currentSlide":"Current slide","lastSlide":"Last slide","solutionModeTitle":"Exit solution mode","solutionModeText":"Solution Mode","summaryMultipleTaskText":"Multiple tasks","scoreMessage":"You achieved:","shareFacebook":"Share on Facebook","shareTwitter":"Share on Twitter","shareGoogle":"Share on Google+","summary":"Summary","solutionsButtonTitle":"Show comments","printTitle":"Print","printIngress":"How would you like to print this presentation?","printAllSlides":"Print all slides","printCurrentSlide":"Print current slide","noTitle":"No title","accessibilitySlideNavigationExplanation":"Use left and right arrow to change slide in that direction whenever canvas is selected.","accessibilityCanvasLabel":"Presentation canvas. Use left and right arrow to move between slides.","accessibilityProgressBarLabel":"Choose slide to display","containsNotCompleted":"@slideName contains not completed interaction","containsCompleted":"@slideName contains completed interaction","slideCount":"Slide @index of @total","containsOnlyCorrect":"@slideName only has correct answers","containsIncorrectAnswers":"@slideName has incorrect answers","shareResult":"Share Result","accessibilityTotalScore":"You got @score of @maxScore points in total","accessibilityEnteredFullscreen":"Entered fullscreen","accessibilityExitedFullscreen":"Exited fullscreen","confirmDialogHeader":"Submit your answers","confirmDialogText":"This will submit your results, do you want to continue?","confirmDialogConfirmText":"Submit and see results","slideshowNavigationLabel":"Slideshow navigation"}}

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PPM: Basic Terminology in contract management

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Basic Terms in contract management