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Glossary A B C D E F G H I J K L M N O P Q R S T U V W X Y Z back door selling - Direct, undue marketing effort to induce preference on the part of program managers or using agencies for a particular product, service or seller with intent to constrain competition. back order - That portion of an order which the vendor cannot deliver on schedule and which has been re-entered for shipment when available. baselining - Obtaining data on the current process that provide the metrics against which to compare improvements and to use in benchmarking. benchmark - A measurement or standard that serves as a point of reference by which process performance is measured. Benchmarking is a structured approach for identifying the best practices from industry and government, and comparing and adapting them to the organization's operations. Such an approach is aimed at identifying more efficient and effective processes for achieving intended results, and suggesting ambitious goals for program output, product/service quality, and process improvement. best practice - An activity or procedure that has produced outstanding results in another situation and could be adapted to improve effectiveness, efficiency, ecology, and/or innovativeness in another situation. bid bond - An insurance agreement, accompanied by a monetary commitment, by which a third party (the surety) accepts liability and guarantees that the bidder will not withdraw the bid, the bidder will furnish bonds as required, and if the contract is awarded to the bonded (insured) bidder, the bidder will accept the contract as bid, or else the surety will pay a specific amount. Also, bid guarantee. bill of lading - A document by which a transportation line acknowledges receipt of freight and contracts for its movement. blanket order (standing order) - A contract under which a contractor or supplier agrees to provide goods or services to a purchaser on a demand basis; the contract generally establishes prices, terms, conditions, and the period covered, although no quantities are specified; shipments are to be made when and as required by the purchaser. Also called blanket agreement, blanket purchase, and standing order. blanket purchase order - a purchase order established for the purpose of filling on-going needs for supplies or services; SVB: specific vendor blanket order; See Blanket Purchase Order Overview. bond - Three-part contract guaranteeing that if one person, the principal obligor, fails to perform as specified or proves to be dishonest, the person to whom the duty is owed, the obligee, will be financially protected by the issues of the bond, the surety. BPD - business process design brand name or equal specification - A specification that cites brand names, model numbers, or other identification as representing quality and performance called for, and inviting bids on comparable items or products of any manufacturer. brand name specification - A specification that cites the brand name, model number, or some other designation that identifies a specific product to be offered exclusive of others. budget - The budget represents funds available in the specified fiscal year July 1 thru June 30. For in depth information on the budget process, see Planning and Budget and Planning and Budget - Budget Training. business automobile coverage - business automobile coverage provides automobile liability and physical damage coverage for commercial entities business interruption - Temporary shutdown of an organization’s activities due to physical damage to its property or others’ property. Business interruption insurance generally provides reimbursement for salaries, taxes, rents and other necessary continuing expenses during this shutdown, plus loss of net profits which would have been earned during the period of interruption, within the limits of the policy. Last revised: January 15, 2007 (am)
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