Procurement
/prəˈkjʊərmənt/
Definitions
- (n.) The act or process of obtaining goods, services, or works, typically by government or commercial entities through contract or tendering procedures.
The department handled the procurement of office supplies for the entire agency.
Related terms
Commentary
Procurement is broadly used to denote legal and procedural methods by which organizations acquire resources; clarity in drafting often hinges on specifying the procurement method involved.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.