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Te Tr Ts
Tec Ten Ter

Technical specifications

Buying requirements that sets out the engineering requirements of a product or system to be purchased – e.g. functional, mechanical, operational, and quality and performance requirements.

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Tender

A offer or proposal to purchase a specified quantity of a commodity for a specified price. See tender proposal.

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Tender proposal

The term tender proposal is used in the procurement field to describe the response from potential suppliers to a request for proposal (RFP). There are three aspects to every tender proposal: company overview, response to specifications, and pricing. Tender proposals…

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Terms of sale

This expression refers to the price quotation for a specific product. It states the price for the product as a specified delivery location, sets the time of shipment and specifies payment terms. The responsibilities of the buyer and the seller…

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Territory

In commercial usage, an area in which a party operates, such as a “sales territory”. A territory´s size and the degree of exclusivity are often important commercial consideration in international trade specially in distribution agreements. See also exclusive distribution.

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