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Retailer
A business or person involved in the
sale of goods or services in relatively small
quantities for consumption or use, but not for
resale. See also: Wholesaler.
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Retainage
A percentage of funds due to a
contractor that are withheld until the work has
been satisfactorily completed and all
subcontractors are paid. Normally used in
construction contracts. See also: Hold Back.
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Retention
To withhold a certain percentage of
the payment due to the contractor until the
work is completed and accepted. The
contractual terms (contained within the
Invitation for Bids/Request for Proposals will
stipulate the amount to be retained as well as
the time period of the retention.
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Retraining
Techniques used to prepare the
employee for revisions in current processes
and procedures or to reinforce existing skills
and abilities.
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Return On Investment (ROI)/Return on Asset (ROA)
A calculation used to determine the
amount of return on an entity's proposed
investment or assets relative to the value of
that investment or asset.
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Revenue Bond
A type of municipal bond funded
by profits made from a project (e.g., a
stadium, toll bridge, or hospital).
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Revenue Generating Contract
A contract with the
primary purpose of generating revenue or
creating a business opportunity for an
organization. This type of contract may also
serve a specific need, such as operating an
organization-owned golf course or tennis center.
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Reverse Auction
An online auction in which
sellers bid against one another to win a
buyer's business. Typically used to purchase
commodities from multiple pre-qualified
providers. Also referred to as “eAuction.”
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Reverse Trade Show
An event that offers
businesses, suppliers, and contractors an
opportunity to maximize connections with
purchasing professionals who source goods
and services. The governmental entities are
the exhibitors, and the suppliers and
contractors may visit and meet to determine
needs and procedures when dealing with
governmental entities.
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RFC