Unconditional agreement to an offer made by another party, which may lead to a legally enforceable agreement, provided other prerequisites for contract formation are met. Also, the acceptance of completion or performance of work, or delivery of a good. See also Offer.« Back to Glossary Index
Discover the world’s largest Glossary of Procurement terms
With over 800 Procurement specific terms (and growing) you will find everything you need to know or thought you knew about the Procurement function. Our aim is to provide you with a comprehensive list collated from the Comprara Groups hub of training and consulting source materials.The Procurement Glossary has been compiled by industry expert Paul Rogers.