spec

/spek/ noun [C or U] (US also specs [plural])

Definition

› informal abbreviation for specification: Always look at the car's spec before you sign a contract.high/basic spec The PC with the most basic spec is the cheapest. How much does it cost to continue retooling a mold when a customer keeps changing design specs?

on spec › taking a chance, without being sure that you will get what you want: The builders built homes on spec - prior to finding a buyer.

(Definition of spec noun from the Cambridge Business English Dictionary © Cambridge University Press)