Dictionary of Procurement Terms

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Search Results: 1951-1960 of 2051 results
  • Unilateral Modification (of a Contract)

    The right of one party to a contract to change the contract pursuant to the change clause of a contract. A unilateral modification may occur for two reasons: 1) The right to unilaterally modify the contract has been given to the public agency in the contract itself, or 2) The modification is for a minor purpose. See also: Bilateral Modification (of a Contract).
  • Uninsurable Risk

    A situation for which insurance companies will not provide coverage because such situation would violate the law or pose an unacceptable or unknowable risk of loss.
  • Unit Cost

    The cost of a unit of product or service, determined by dividing the total costs for a given period of operation by the number of units produced during that period.
  • Unit Labor Cost

    The amount paid to workers to produce one unit of output, calculated by multiplying the hourly rate for direct labor by the time it takes to complete one such unit.
  • Unit of Measure

    A measure of packaging (e.g., carton, box, bottle).
  • Unit Price

    The cost per unit of a product or service (e.g., price per ton, per labor hour, or per foot).
  • United Nations’ Convention on Contracts for the International Sale of Goods (CISG)

    Uniform body of law that governs contracts for the international sale of commercial goods.
  • United States Code (USC)

    The official codification and compilation of all the permanent and general laws of United States federal statutes.
  • Universal Product Code (UPC)

    The twelvecharacter bar code that uniquely identifies a company's product.
  • Universal Public Procurement Certification Council (UPPCC)

    An independent entity formed to govern and administer the Certified Public Procurement Officer (CPPO) and the Certified Professional Public Buyer (CPPB) certification programs. This non-profit organization was jointly established by The Institute of Governmental Purchasing, Inc. (NIGP) and the National Association of State Procurement Officials (NASPO) in 1978. The UPPCC is composed of members from the California Association of Public Procurement Officers (CAPPO), the Florida Association of Public Procurement Officers (FAPPO), the National Association of Educational Procurement (NAEP), and the National Procurement Institute (NPI). The UPPCC is responsible for establishing, monitoring, and revising program requirements, as well as developing and approving content for the certification examinations.
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