Purchasing/Stores Glossary of Terms

Glossary Terms Beginning with "N"

NAEB
National Association of Educational Buyers.

NAPM
National Association of Purchasing Managers.

NPT Letter
Letter of explanation sent to vendor when their invoice or credit is returned and not to be processed.

NPT
Not Put Through - pertains to invoices and/or credits which offset one another and are not put through the normal invoice/credit memo processing cycle. See NPT letter.

NTE
Not to Exceed - Used to place a limit on an order when the price is not known. Vendor is to contact the Buyer if the order exceeds the limit.

Negotiation
Conferring or discussing by the Buyer to reach an agreement with the vendor.

Net Price
Price after all discounts, rebates, etc., have been allowed.

Net
See Terms.

No Bid
A response to an Invitation for Bids stating that the respondent does not wish to submit a bid. It usually operates as a procedural device to prevent removal from the bidders for failure to submit bids.

Non-responsive Bid
A bid that does not conform to the essential requirements of the Invitation for Bids.

Nonstock Order
A Nonstock order is an order placed by University Stores with a vendor because the items needed are not stocked at Stores.