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Purchasing/Stores Glossary of Terms

Glossary Terms Beginning with "T"

T's and C's
See Terms and Conditions.

TEV
Travel Expense Voucher - University document used to reimburse allowable personal travel expenses to individual traveling on University business.

TR
Transportation Request (Travel) - written travel authorization form obtained in the Travel office which traveler gives to the company (Travel agent or airlines, etc.) allowing the agent to invoice the University for the travelers ticket.

Tabulation of Bids
See Recap.

Task
An optional field on the Stores Order Form. It is used by departments for internal cost accounting to identify buildings, labs, etc. Task is up to three digits long.

Terms
Conditions of a contract that limit or define its scope. Terms of payment indicate if a discount is allowed and the time frame for payment, i.e. 2% 20 days, 2% may be deducted if payment is made within 20 days. Net 30 indicates no discount and payment is due in 30 days. These are just two terms used as examples; several others may apply. Other terms include shipping date, method and responsibility.

Terms and Conditions
A phrase generally applied to the rules under which all bids must be submitted and the terms that are included in most purchase contracts which are often published by purchasing authorities for the information of all potential bidders. The University Terms and Conditions are printed on the reverse side of the purchase order form and bid quotation form. Sometimes called "boilerplate". See also, Special Terms and Conditions.

Title
The means whereby a person's ownership of property is established.

Tracer
A request upon a transportation company to trace a shipment for the purpose of expediting its movement or establishing delivery.

Trade Discount
A deduction from an established price for items or services, often varying in percentage with volume of transactions, made by the seller to those engaged in certain business and allowed irrespective of the time when payment is made. See Discount.

Trademark
A sign, symbol, mark, word or arrangement of words in the form of a label adopted and used by a manufacturer or distributor to designate particular goods, and which no other person has the legal right to use.