Business Pitch Dictionary by pitch.dog
Procurement evaluation & award · Core

Contract award

Also called: award

ELI5

The buyer's formal selection and commitment to a supplier, subject to required steps.

Used in conversation

“Counsel wants contract award clarified before anyone signs.”

Pitch context

You will see “Contract award” in operating plans, procurement packs, supplier reviews and supply-chain reports when the discussion reaches procurement evaluation & award.

Why it matters: In procurement evaluation & award, a loose definition can change rights, obligations, approval, disclosure or enforceability.

Caution

Meaning, enforceability and required process vary by jurisdiction and agreement; this definition is not legal advice.

Sources & evidence · 3

Direct term-level sources and supporting source families.