Front

the group in the Controller's Office that is responsible for payments to vendors

Back

Accounts Payable

Front

electronically approves HokieMart requisitions. Approver checks to make sure the item is appropriate for purchase and that the proper fund and account code is used

Back

approver

Front

submitted by a vendor stating the amount it will cost to do or provide what is being requested

Back

bid

Front

In Procurement, requires more than one source (i.e. company, contractor, etc.) to submit a bid

Back

competitive

Front

purchasing actions that can be enacted without competition and can be processed for payment in an expedited manner (Policy 3220)

Back

direct pay

Front

Virginia Tech's e-procurement system, which provides an effective and efficient purchasing process, including online access to many vendors, an automated interface to Banner Finance, and the ability to secure better pricing of commonly-used products

Back

HokieMart

Front

a public advertisement for low bids to be submitted for a specific and defined good or service

Back

Invitation for Bid (IFB)

Front

In purchasing, indicates that a company may have the exact item needed for research that no one else may offer so Virginia Tech doesn't need competitive process.

Back

non-competitive

Front

an individual who initiates the electronic purchase of goods and services "on behalf of" the Requestor who is authorized to use HokieMart

Back

On Behalf-of-Requestor

Front

act of acquiring something, selecting vendors, establish payment terms

Back

Procurement