Dictionary of Procurement Terms

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

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Search Results: 2331-2340 of 2469 results

  • UMA


    See Also: Uniform Mediation Act (UMA)

  • Unallowable Cost

    Any cost that, in accordance with pertinent laws or regulations, cannot be included in prices or cost-reimbursements under a contract to which the cost is allocable. (Nash, Schooner, & O’Brien, 1998)

  • Unbalanced Bid

    A bid that contains pricing aberrations. This may happen in time and material contracts or construction contracts where upfront payment may be made for mobilization. Unbalanced bids may be deemed to be non-responsive, and may be both mathematically unbalanced and materially unbalanced. Many public entities utilize a bid analysis procedure to help identify unbalanced bids. (Martin & Miller, 2006)

    See Also: Front-End Loading

  • Unbundling

    Dividing a service into smaller portions to encourage competition. Frequently done on the basis of geography, for example, a large service area, such as a city or county is divided into smaller geographical regions.

  • Unconscionability

    Generally implies an absence of meaningful choice on the part of one of the contracting parties. A contract clause that is so one-sided as to oppress or unfairly surprise a party. It is usually grounds for contract avoidance, for example, where it is the result of an obvious mistake on the part of the bidder. (Garner, 2004)

  • Undercapitalization

    The lack of funds to successfully operate a business, which may lead to business failure. (Schiller, 2000)

  • 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)

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