Misprocurement
Definition, Meaning & Examples
Part of speech noun
Quick meaning: Misprocurement is a noun meaning The act of misprocuring.
Meaning
The act of misprocuring.
Example Sentences
Ultimately, the Bank may declare misprocurement if matters of contention cannot be resolved in a reasonable period of time.
A loan may be cancelled where a suspension of the loan lasts longer than 30 days, for fraud and corruption, for misproducrement, or where the loan is no longer required.
If procurement is not carried out as agreed, ADB will declare misprocurement, and normally cancel that portion of the financing allocated to the goods and works that have been misprocured.
The information on Bank “misprocurements,” that is, expenditures that have not been procured in accordance with Bank procurement rules and related loan agreements, covers the period from January 1996 to November 1999.
Word Forms
- misprocurements
Related Words
Related dictionary entries include misreach, misdoing, mismanagement, misdump, misdeal, misuse.
Related Dictionary Tools
Sources & Attribution
FreeDictionaryAPI.com / Wiktionary · Original source · CC BY-SA 4.0
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