OC4H glossary


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P

payee

The organization which receives the funds from a transaction.

Planning

Initial stage of the contracting process including budgeting 


politically exposed person

In financial regulation, "politically exposed person" (PEP) is a term describing someone who has been entrusted with a prominent public function. A PEP generally presents a higher risk for potential involvement in bribery and corruption by virtue of their position and the influence that they may hold.


procurement

The means by which a person or entity acquires goods, services and works.

Procurement Cycle

A cyclical process of key steps that need taken when procuring goods or services.


procurement method

One of various possible mechanisms that a procuring agency can use to procure goods, services or works, depending on international and local regulation, number of possible suppliers, nature of what is to be procured, type of agency, etc.

procuring agency

A party in a public contract that acquires goods, services or public works to a contractor.

procuring entity

The entity managing the procurement. This may be different from the buyer who pays for, or uses, the items being procured.

ProZorro

Ukrainian government E procurement system. 


public contract

An agreement signed by one or more procuring agencies and one of more contractors.


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