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Postconsumer Material
A recovered material
that would otherwise have been disposed of
once it had served its intended use as a
consumer item.
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PPI
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PPM
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PPP
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Practicable
Possible; a situation in which it is
deemed that a given factual result can occur.
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Pre-Award Contract Review
An audit or survey
performed before a contract is awarded to
determine the supplier’s or contractor’s
technical, managerial, and financial ability to
perform under the proposed contract, as well
as the establishment of and compliance with
appropriate procurement system procedures.
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Pre-Bid/ Pre-Proposal Conference (Meeting)
A
meeting held by the procurement professional
with potential bidders/proposers prior to the
opening of the solicitation for the purpose of
answering questions, clarifying ambiguities,
and responding to general issues. See also:
Pre-Solicitation Conference, Bidders
Conference.
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Pre-Qualification (of Bidder/Proposer)
The
screening of potential suppliers/contractors in
which such factors as financial capability,
reputation, and management are considered
to develop a list of qualified businesses that
may then be permitted to submit
bids/proposals.
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Predatory Pricing
The illegal act of setting prices
artificially low with the intent to eliminate
competition.
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Preference
An advantage given to
bidders/proposers in a competition for a
contract award that may be granted based on
pre-established criteria such as ethnicity,
residence, business location, origination of
the product or service, business classification
(e.g., small business), or other reasons. See
also: Local Preference, Buy Local,
Disadvantaged Business.
