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: 1961-1970 of 2049 results
  • Unstable Market

    Market that exhibits short-term fluctuations. Oil, minerals, agricultural products, and animal by-products typically dominate this type of market. The supply of these raw materials is frequently influenced by political forces, weather conditions, speculative financial actions, and other unpredictable reasons not governed by the laws of supply and demand.
  • Unsuccessful Bidder

    A supplier whose bid was not accepted for reasons of price, quantity, or failure to comply with specifications.
  • UPC

  • Upgrade

    To improve the functionality or increase the value of equipment or services.

  • Usage

    The quantity of an inventory item consumed over a period of time expressed in units of quantity or of value in dollars.
  • USC

  • Use Tax

    A tax imposed on a user of goods.
  • Used Equipment

    Previously owned, installed, or refurbished equipment.
  • User Charge

    Fee paid for the use of a publicsector good or service.



Is there a term missing from our dictionary?


Does a more concise or relevant definition apply?


Submit your comments/suggestions to our editorial board at dictionary@nigp.org