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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).
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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.
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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.
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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.
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Unit of Measure
A measure of packaging (e.g.,
carton, box, bottle).
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Unit Price
The cost per unit of a product or
service (e.g., price per ton, per labor hour, or
per foot).
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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.
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United States Code (USC)
The official
codification and compilation of all the
permanent and general laws of United States
federal statutes.
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Universal Product Code (UPC)
The twelvecharacter
bar code that uniquely identifies a
company's product.
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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.
