payment terms

The period which a contractor, supplier or vendor must wait before payment falls due from a customer. Not to be confused with debtor days. … Read more


The period from when Procurement receives a direction to issue a tender to the point at which the contract is signed by both parties.


The process of assessing the capability of a contractor before inviting them to bid for a scope of work. A comprehensive pre-qualification process should … Read more


“a temporary endeavor undertaken to create a unique product, service or result” – PMI “Planned set of interrelated tasks to be executed over a … Read more