Cmbok 3.1 - 3.6

Front 1

Acceptance

Back 1

The act, either verbal or written, that conveys a sent to contractual terms and conditions.

Front 2

Actual Authority

Back 2

An agent's (see principal-agent relationship) specific Authority that the principal intentionally confers on the agent; confers a power to the agent to affect legal relations of the principles with third parties.

Front 3

Apparent Authority

Back 3

The appearance of being a principal's agent (see principal-agent relationship) with the power to act for the principal; corporations are liable for an employee act's and Promises to a third party if it appears to the third party that the employee has been granted Authority by his or her corporate employer (principal) to do those acts and bind the corporation.

Front 4

Appropriation

Back 4

The act of setting aside money for specific federal government departments, agencies, and programs

Front 5

Authorization

Back 5

establishing or continuing one or more federal agencies or programs, establishing the terms and conditions under which they operate, authorizing the enactment of Appropriations, and specifying how appropriated funds are to be used.

Front 6

Boilerplate

Back 6

printed terms and conditions that are frequently found on the back of purchase order forms and contracts usually attached as "general provisions."

Front 7

Buyer

Back 7

The contracted party with the requirement for goods and or services to be fulfilled by one or more sellers. Also called the offeree

Front 8

Case law

Back 8

the set of past rulings by judges (and similar tribunals) that meet their respective jurisdictions rules for formality to be cited as precedent.

Front 9

Communities of practice

Back 9

groups of practitioners and or subject matter experts sharing common goals and a desire to improve their performance and the performance of their teams and organization.

Front 10

Contract

Back 10

and you truly binding legal relationship obligating the seller prefer nurse supplies or services, and the buyer to provide consideration for them

Front 11

Contract management

Back 11

the actions of a contract manager to develop solicitations, develop offers, form contracts, perform contracts, and close contracts.

Front 12

Contract modification

Back 12

any written alteration in the specification, delivery point, rate of delivery, contract, price, quantity, or other provision of an existing contract, accomplished in accordance with a contract clause, which may be unilateral or bilateral.

Front 13

Contract performance

Back 13

the execution of the terms of a contract; the process of establishing and maintaining communication, and tracking and documenting contract performance

Front 14

Contracting officer (CO or KO)

Back 14

A person with the authority to enter into, administer, or terminate government contracts. Insurers that all requirements of law, executive orders, regulations, and other applicable procedures, including clearances and approvals have been met

Front 15

Enabling technology

Back 15

Technology that supports an ability to "connect, collect, and collaborate" across the organization.

Front 16

Excusable delay

Back 16

see force majeure

Front 17

Explicit knowledge

Back 17

Formal, codified, and systematic knowledge

Front 18

Express Authority

Back 18

Authority plainly granted, either verbally or in writing, to an agent by a principal (see principal-agent relationship); directions provided to the agent by the principal to do specific actions.

Front 19

Express warranty

Back 19

a written statement arising out of a sale to the customer of a consumer good, pursuant to which the manufacturer, distributor, or retailer undertakes to preserve or maintain utility or performance of the consumer good or provide compensation if there is a failure in utility or performance.

Front 20

Fair and reasonable price

Back 20

a price in which the total cost of providing the supplies or services are what would be incurred by well-managed, responsible firm using reasonably efficient and economical methods of Performance, plus a reasonable profit.

Front 21

Fast learning

Back 21

the ability to learn quickly before, during, and after work is completed as a part of getting the work done. It supports the ability to adapt to change

Front 22

Federal acquisition regulation

Back 22

the principal set of rules in the federal acquisition regulations system, which governs the acquisition process by which the executive agencies of the United States federal government acquire (i.e., purchase or lease) goods and services by contract with appropriated funds.

Front 23

Force majeure

Back 23

An unexpected or uncontrollable event that upsets the plan or releases one from obligation. Government Contracting use the term excusable delay.

Front 24

Free Trade Agreement

Back 24

A treaty between two or more countries that do not impose tariffs for Commerce conducted across their borders

Front 25

General agent

Back 25

An agent (see principal-agent relationship) authorized to conduct a limited series of transactions involving a continuity of service and maybe empowered to enter into contracts that are binding on the principle.

Front 26

Good faith

Back 26

Honesty in fact and the observance of reasonable commercial standards of fair dealing.

Front 27

Implied Authority

Back 27

Authority given by a principal to an agent (see principal-agent relationship) that is not actually expressed or otherwise communicated, which allows the agent to perform all the usual and necessary tasks to exercise agent's Expressed Authority; the direction to do something is not provided expressly from the principl's words but it's implied from what is understood as customary in the industry.

Front 28

Implied warranty

Back 28

A promise arising by the operation of law that something that is sold shall be merchantable and fit for the purpose for which the seller has reason to know that it is required

Front 29

Knowledge asset

Back 29

And accessible and reusable repository for the core knowledge of the organization ( information plus experience)

Front 30

Knowledge Management

Back 30

continuous performance improvement through building in the organization the capability to capture, adapt, transfer, and reuse the critical and relevant knowledge of the organization to continuously improve the individual, team, and organizational performance

Front 31

Market research

Back 31

the process used for collecting and analyzing information about the entire Market available to satisfy the minimum agency needs to arrive at the most suitable approach to acquiring, Distributing, and support and supplies and services.

Front 32

Merchant

Back 32

a person who deals in Goods or otherwise holds itself out by occupation as having knowledge or skill peculiar to the practices or Goods involved in the transaction or do which the knowledge or skill may be attributed by the person's employment

Front 33

Organizational conflict of interest (OCI)

Back 33

exist when the nature of the work to be performed under a proposed contract may, without some restriction on future activities, result in an unfair competitive advantage to the contractor or impair the contractor's objectivity in Performing the contract work; or when, because of other activities or relationships with other persons, a person is unable or potentially unable to render impartial Assistance or advice of the government, a person's objectivity in performing the contract work is or might be otherwise impaired, or a person has an unfair competitive advantage

Front 34

Personal conflict of interest (PCI)

Back 34

a situation in which a covered employee has a financial interest, personal activity, or relationship that could impair the employee's ability to act impartially and in the best interest of the government when performing under a contract.

Front 35

Positive law

Back 35

a law made by a person or group of people, that obliges or specifies an action; the establishment of specific rights for an individual or group

Front 36

Principal-agent relationship

Back 36

A relationship in which one and person has legal authority to act for another.

The Authority granting party (a company or government agency) is the principal; the party who receives authority from the principal to act on his or her behalf is called the agent.

The principal is responsible for the acts of the agent and the Agents acts binds the principal.

Front 37

Procedural knowledge

Back 37

Knowledge of processes for developing proposals and offers

Front 38

Ratification

Back 38

The act of approving an unauthorized commitment by an official who has the authority to do so.

Front 39

Repudiation

Back 39

The refusal, especially by Public Authority, to acknowledge a contract or debt.

Occurs when one contracting party (Party A) gives the other contracting party (Party B) reason to believe that Party A will not perform the contract through an action or statement; when repudiation occurs, contracting Party B may pursue a remedy against contracting Party A for breach of contract.

Front 40

Sellar

Back 40

The contracted party tasked with fulfilling the buyer's requirement for goods and or services. Also called the offerer.

Front 41

Situational assessment

Back 41

Being acutely aware of what is occurring in the immediate conditions to understand how information, events, and one's own actions will impact organizational short and long-term goals and objectives.

Front 42

Special agent

Back 42

an agent (see principal-agent relationship) whose power and authority are limited to accomplishing a specific and limited assignment; this agent does not have the power or authority to enter into contracts on behalf of the principal.

Front 43

Strategic knowledge

Back 43

Developing a competitive business strategy to win the contract

Front 44

Tacit knowledge

Back 44

Inexplicit knowledge such a soft skills required during negotiations.

Front 45

Tender

Back 45

an unconditional offer of money or service in satisfaction of a debt or obligation made to save a penalty or forfeiture for nonpayment or non-performance

Front 46

Unauthorized commitment

Back 46

a non-binding agreement made by a government representative who lacked the authority to enter into the agreement on behalf of the government.

Front 47

Uniform Commercial Code

Back 47

one of a number of uniform acts that have been put into law with the goal of harmonizing the law of sales and other commercial transactions across the United States of America through UCC adoption by all 50 states, the District of Columbia and the US territories

Front 48

Universal agent

Back 48

An agent (see principal-agent relationship) provided with broad authority to act on behalf of the principal.

Front 49

Warranty

Back 49

a promise or app formation given by a seller to a buyer regarding the nature, usefulness, or condition of the supplies or performance of services furnished under the contract.