18B - Close Project Procurements Flashcards
1
Q
A formal evaluation of both the vendor’s performance of the contract and the effectiveness of the procurement process itself.
A
procurement audit
2
Q
Undertaken to arrive at a final equitable settlement of all outstanding issues, claims, and disputes by negotiation.
A
negotiated settlements
3
Q
A formal written notification from the buyer and the vendor stating that no considerations are pending from either.
A
closed procurement
