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National Supplier Information System (NASIS)
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The production of articles for use from raw or
prepared materials by giving to these materials new form, qualities and
properties or combinations thereof whether by hand or machinery. (23/06/94)
(fabrication)
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Market Price
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(1) The price at which a seller is ready and
willing to sell and a buyer is ready and willing to buy in the ordinary
course of trade. It is the actual price at which a given commodity is currently
sold or has recently been sold in the open market, that is, not a forced
sale. See also fair market value and market value. (2) Accounting. The
prevailing or last quoted price under conditions applicable in the circumstances.
Net realizable value. (23/06/94) (prix du marché)
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Market Rate
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Service contracts. Rates paid for similar work
under the same conditions, in the immediate geographical areas and by the
majority of individuals providing the same service. (23/06/94) (taux du
marché)
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Market Value
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The price which a product or property might be
expected to bring if offered for sale in a fair market, i.e. a market that
is not temporarily prone to fluctuations. It is the price that would be
fixed by negotiation and mutual agreement between a willing buyer and a
supplier who is willing but not compelled to sell. (23/06/94) (valeur marchande)
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Mark-up
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(1) Defence Production Act. The amount added
to cost in determining the selling price to cover overhead and profit.
(2) The difference between the contractor's laid-down cost for a product
and its resale price to the Crown exclusive of the Goods and Services Tax
and/or the Harmonized Sales Tax. Mark-up includes applicable purchasing
expense, internal handling and general and administrative expenses plus
profit. (3) The amount added to the cost of merchandise to arrive at the
price at which it will be offered for sale. An addition to a previously
established selling price of goods for sale. (16/02/98) (majoration)
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Modification
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Equipment. An engineered alteration to an item
of supply which changes the design characteristics or capabilities of the
end item, major or subassembly component part, or accessory. Normally a
modification is made after an item of equipment is delivered whereas a
design change is made prior to delivery during production. (23/06/94) (modification)
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