Procurement Process
/prəˈkjʊərmənt ˈproʊses/
Definitions
- (n.) The structured sequence of activities and legal steps undertaken by an organization to acquire goods, services, or works from external sources, ensuring compliance with applicable laws and regulations.
The procurement process requires submitting bids, evaluating offers, and awarding contracts in a transparent manner.
Forms
- procurement process
- procurement processes
Related terms
See also
Commentary
The procurement process often involves multiple legal requirements including competitive bidding, conflict of interest policies, and documentation standards to ensure fairness and accountability.
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.