misprocurement
Noun
The act of misprocuring.
Usage- Countable
- Uncountable
- Examples
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More examples (1)
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.
Ultimately, the Bank may declare misprocurement if matters of contention cannot be resolved in a reasonable period of time.
More examples (2)
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.
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.
Word forms
misprocurements