Dictionary of Procurement Terms

Welcome to the NIGP Online Dictionary of Procurement Terms, the comprehensive reference for public purchasing terms and concepts.

Search the Dictionary of Terms

Search Results: 11-20 of 50 results for “U”

  • Underemployment

    An economic condition where people seeking full-time paid employment work only part time or are employed at jobs below their capability. (Schiller, 2000)

  • Underwrite

    To assume risk, especially for a new issue or an insurance policy. (Business, 2002)

  • Underwriter’s Laboratory (UL)

    A global independent safety science company dedicated to promoting safe living and working environments.

  • Unemployment

    The inability of labor-force participants to find jobs. An economic condition in which a percentage of the population wants to work but is unable to find sustainable employment. (Bishop, 2004)

  • Unemployment Rate

    The proportion of the labor force that is unemployed. (Schiller, 2000)

  • Unfair Competitive Advantage

    Government action that provides for an advantage of one competitor over other competitors. For example, an unfair competitive advantage may exist when a contractor competing for an award possesses proprietary information that was wrongfully obtained from the government without proper authorization. Occurs when a contractor gains exclusive access to information, not available to other contractor/competitors.

  • Uniform Administrative Requirements for Grants in Aid to States and Local Governments

    Document issued by the Office of Management and Budget (OMB) in 1988 to establish uniform administration rules for federal grants and cooperative agreements.

    See Also: OMB Circular A-102

  • Uniform Code Council Inc.


    See Also: GS1 US BarCodes

  • Uniform Commercial Code (UCC) (U.S. Law)

    First published in 1952, it was formulated by the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute. It covers a wide range of commercial activities. The UCC does NOT apply to the purchase of services and is not applicable to federal government contracting. The UCC determines rights and obligations on the basis of fairness and reasonableness in the light of accepted business practice. The UCC has been adopted by all of the States. 2003 marked the conclusion of a fifteen-year-long process of re-writing the UCC. In that period, every article was either completely revised or substantially amended. The most important part of the UCC for the public purchasing officials is Article 2, entitled “Sale of Goods.” Absent a specific state or federal statute or administrative regulation, Article 2 will govern the public purchasing official’s contract for the sale of goods.

  • Uniform Freight Classification

    Governs class rates for rail transportation.

    See Also: Class Rate
  • 1
  • You're on page 2
  • 3
  • 4
  • 5

Advertisement

Advertisement