Dictionary of Procurement Terms

Published in 1952 and revised and amended in 2003, the UCC was formulated by the National Conference of Commissioners on Uniform State Laws (NCCUSL) and the American Law Institute. The Code covers a wide range of commercial activities, but it is not applicable to United States federal government contracting. The UCC determines rights and obligations on the basis of fairness and reasonableness in the light of accepted business practices. The UCC has been adopted by all fifty states. Article 2, entitled “Sale of Goods,” is the most important part of the UCC for procurement professionals. Absent a specific state or federal statute or administrative regulation, Article 2 will govern a contract for the sale of goods.