Duress occurs when pressure is applied to a person or an organisation. Contracts agreed between two parties may be voidable if one party has entered into the agreement under duress. In procurement the most likely form of duress is economic duress. An example might be that a supplier is coerced into signing a contract on unfavourable terms because the loss of the contract would mean certain bankruptcy. Although it is hard for the courts to determine what is legitimate commercial pressure and what is coercion, the supplier might seek the contract to be set aside due to economic duress.« 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.