Abbreviations - GeM
SN | Abbreviation | Stands for |
1 | GeM | Government e Marketplace |
2 | GTC | General Terms & Conditions (For Goods & Services. If not chosen STC) |
3 | STC | Special Terms & Conditions (For Goods & Services) |
4 | ATC | Additional Terms & Conditions (For Bid/Reverse Auction) |
5 | SLA | Service Level Agreement (For Services) |
6 | eRA | e Reverse Auction |
7 | PFMS | Public Finance Management System (online software for payments system in Govt of India. Like IPAS in IR) |
8 | NPCI | National Payment Corporation of India (who develops UPI) |
9 | UPI | Unified Payment Interface (Payment system developed by NPCI) |
10 | GeMAR&PTS | GeM Availability Report & Past Transaction Summary |
11 | NPAE | Non PFMS Agencies/Entities (example is IR) |
12 | CRAC | Consignee Receipt & Acceptance Certificate |
13 | PRC | Provisional Receipt Certificate |
14 | PBG | Performance Bank Guarantee |
15 | DGS&D | Director General of Supplies & Disposables ( Nodal Agency for GeM and working under Ministry of Commerce & Industries) |
16 | NPO | Non Profit Organisation ( GeM SPV is NPO registered under Section 8 of Companies Act) |
17 | SPV | Special Purpose Vehicle |
18 | MRP | Maximum Retail Price (In GeM, every seller mandatorily offer 10% discount on MRP) |
19 | GFR | General Financial Rules |
20 | GMV | Gross Merchandise Value (Total value of transactions on e platform like GeM. GeM is the 3rd rank in worldwide in terms of GMV) |
