Terminology

Buyer

A buyer is the person or company who buys and good or pays for a service.

Supplier (also called a vendor )

A supplier is the person or company that provides a good or service.

Solicitation (also called a tender )

A solicitation is when a buyer requests offers for a good or service.

Quote (also called a quotation )

A quote is the price a supplier will sell goods for, or charge for services. The price is only value for a specific period of time.

Bid

A bid is a breakdown of all the costs required for a supplier to provide goods or services.

Proposal

A proposal gives details about the supplier, their experience doing similar work, how they will do the requested work, and a price and schedule to complete the work.

Request for Quotes (also called Request for Quotation )

a RFQ is used when a buyer needs a fixed price for specified goods and services. A RFQ is used for low dollar value goods or services.

Fixed Price

A fixed price is what a supplier offers to the buyer as a set dollar amount for the goods or services.

Invitation to Tender or Request for Tender

ITTs/RFTs are used when a buyer needs a price for goods or services that have a defined scope of work. An ITT/RFT is used for larger dollar value goods or services.

Scope of Work

A scope of work describes what the work is and how the buyer wants it done.

Request for Proposals

A RFP is used when a buyer needs help to figure out the scope of work for a service and needs the service to be completed.

Competitive Solicitation

A solicitation to more than one supplier. A competitive solicitation is when a buyer invites more than one supplier to submit an offer. The solicitation can be by public advertisement or by directed invitation.

Public Advertisement

A public advertisement is when the buyer posts the solicitation on the internet or in a newspaper inviting any qualified supplier to submit an offer.

Directed Solicitation

A directed invitation is when a buyer asks more than one supplier for an offer. Often suppliers are selected from directories and source lists.

Non-Competitive Solicitation (also called a Sole Source )

A solicitation to a single supplier. A non-competitive solicitation is when a buyer invites only one supplier to submit an offer.

Sole Proprietorship

A sole proprietorship is the most simple business ownership structure. A sole proprietorship only has one business owner.

Standing Offers

A Standing Offer is an offer from a supplier to provide goods or services at a specific price over a specific time period. Standing offers are used when goods or services are needed on a regular basis.

Supply Arrangement

Supply arrangements are used when the scope of services required cannot be fully defined in advance or specific prices cannot be set in advance of the need. Suppliers are not bound by pre‑arranged prices. Supply arrangements create a pool of pre-qualified suppliers who are able to provide a specific type of service.

Source Lists

Source lists are similar to Supply Arrangements. A source list is a list of prequalified suppliers for services that are needed on a regular basis.

As & When Contracts

As & When contracts with suppliers allow the Government of Nunavut to request maintenance services only if and when the work is required. It could be a routine service or it could be an urgent service.

Nunavummi Nangminiqaqtunik Ikajuuti (NNI policy)

The GN has a policy based on obligations in the Nunavut Agreement to encourage greater participation from Inuit Firms and Nunavut businesses in procurement opportunities.

Funding (also called a contribution )

Money provided by a government to use for a particular purpose. Typically a larger amount of money that has reporting requirements.

Grant

Money provided by a government to use for a particular purpose. Typically a smaller amount of money.

Contribution Agreement

A legal document between the government and the funding recipient. It explains things like what the funding can be used for, reporting requirements, and when the funds must be spent.

Funding Call (also called Call for Proposals or Call for Applications )

An announcement introducing a funding or grant program. The funding call explains things like the program objectives, what the funding can be used for, who is eligible to apply, and timelines for funding.

Application Guide

A document that some funding and grant programs have that provides details of the funding program and what the applicant must include in their application or proposal.

Eligibility Criteria

Requirements of the funding program that must be met to be considered for funding.

Proponent (also called applicant )

The person, business or entity applying for the funding.

Application

A form provided by the government that applicants must complete to apply for funding. It asks for information about the applicant, the proposed project, objectives of the project and how much the project will cost. Sometimes it is an electronic form.

Project Budget

A detailed breakdown of project costs over the length of the project. Often funding calls have a budget template that the applicant needs to fill out.

Project Workplan (also called Scope of Work )

A detailed plan for how the project will be delivered. Workplans often include information such as the steps of the project, who will participate in each step, and project deliverables.

Expression of Interest

An expression of interest provides a high level project description and budget. It is used to gauge whether the government is interested in funding the project. Successful EOIs will be invited to submit a full funding proposal or application.

Financing or Loan

Money provided to a business that must be paid back over an established time period. It may be interest-free or may have interest.

Contribution or Funding

Money provided to businesses that does not have to be paid back. Typically a contribution is a larger amount of money that has reporting requirements.

Grant

Money provided to businesses that does not have to be paid back. Typically grants are a smaller dollar value.

Business Plan

A business plan describes your business activities and objectives, and how business goals will be achieved. It is a roadmap for the business’ marketing, financial, and operational activities.

Cost-Sharing

When a project is funded by multiple organizations. Funding programs often do not fund 100% of a project and require funding from other sources.

In-Kind Contributions

Project support that is not a cash contribution. This can be labour, use of equipment, or project management support provided free of charge.

Pilot Project

A mini-version of a project to test an idea and learn how it can be improved. For example, testing a program in one community before delivering the program in all communities.

Capital Funding

Money for an infrastructure project such as planning and constructing a new building, a building upgrade, or a renewable energy project.