Jargon Buster Jargon Buster – commonly used terms CPRs (Contract Procedure Rules) – the Council’s internal rules for the procurement of goods, services and works CPU – Corporate Procurement Unit e-Auction – on-line auction in which suppliers compete against each other with open bids for the right to provide goods and services to the buyer e-Procurement – business to business purchase or sale of supplies and services online including electronic tendering and e-Auctions EOI (Expression of Interest) - advertisement or letter requesting responses from suitably qualified firms or individuals by a set date EU Legislation – European Union Public Procurement Directives are rules and regulations that public sector organisations must adhere to when buying goods and services ITT (Invitation to Tender) – official document which provides background to your requirement, specification, terms and conditions of the contract MEAT - Most Economically Advantageous Tender Method Statement - document used in a tender process which sets out questions for the suppliers to answer which help understand how you intend to provide the goods or services OJEU (Official Journal of the European Union) – publication in which all public sector contracts valued over a certain threshold must be published PQQ (Pre-Qualification Questionnaire) - issued to companies interested in a particular tender. It assesses suitability and capability prior to the issue of a tender document Procurement - the act of obtaining goods and/or services by purchase, lease or rental Purchasing Cards – a payment card that may be used to purchase goods and/or services up to an agreed value from certain suppliers RFQ (Request for Quotation) - written quotation or bid from an approved or qualified supplier Select List – approved list of companies interested in working as a sub contractor to the Council Sell2Wales – Welsh Government’s website that advertises public sector contracts SME – small or medium sized company Standing Orders – the Council’s own internal procedures for procurement and contracting T’s & C’s (Terms & Conditions) – outlines the legal standing of a contract and covers areas such as breach of contract and early termination Tender - the process of inviting and evaluating bids from suppliers to provide goods or services VFM (Value for Money) – the principle underpinning all public sector purchasing activity Welsh Purchasing Consortium (WPC) – joint buying arrangement for twelve local authorities in the South Wales region Value Wales - provides advice and support on smarter purchasing and procurement to the Welsh Government and the wider Welsh public sector