Define: Procurement Costs

How is Procurement Costs defined in a legal contract?

• Procurement Costs means the actual price paid for the procurement of materials and supplies used in the manufacture of products, does not include the Procurement Fee. Seen in 2 SEC filings
• Procurement Costs means any costs or expenses incurred in its capacity as purchaser of a product for sale that are not reimbursed under the supply agreement. Seen in 1 SEC filing
• Procurement Costs means the aggregate of the costs and expenses properly and reasonably incurred in respect of the procurement of a project, including payment for services and the costs for finalising documentation required to achieve a contract execution date. Seen in 1 SEC filing
• Procurement Costs means the amount paid or payable in respect of salaries, bonuses and benefits in connection with an employment, and the monthly license fee paid in respect of procurement software. Seen in 1 SEC filing
• Procurement Costs means the costs and expenses reasonably incurred in respect of a project. Seen in 1 SEC filing

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of procurement costs' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Procurement Costs means the aggregate of all costs and expenses, properly and reasonably incurred in purchasing products or executing a project.

Relevant Contract Types

• Supply Contracts
• Manufacturing Contracts
• Construction Contracts
• Service Contracts

Relevant Circumstances

• Launching a Big Project
• Establishing a New Supply Chain
• Updating Existing Infrastructure

Relevant Sectors

• Construction
• Manufacturing
• Retail
• Healthcare

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Genie Definition 2

• Procurement Costs means the total of employee salaries, bonuses, benefits and recurring fees related to procurement activities.

Relevant Contract Types

• Employment Contracts
• Vendor Agreements

Relevant Circumstances

• Hiring Specific Procurement Personnel
• Establishing Long-Term Vendor Relationships
• Licensing or Subscribing to Procurement Software

Relevant Sectors

• Tech
• Finance
• Education
• Government

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