Dictionary of Procurement Terms

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Search Results: 21-30 of 50 results for “U”

  • Uniform Mediation Act (UMA)

    Adopted by the National Conference of Commissioners on Uniform State Laws on February 4, 2002. The UMA was promulgated to harmonize the proliferation of state and local mediation laws in hopes of devising a uniform law that will be adopted by the states.

  • Unilateral

    1. One-sided. 2. A procurement action initiated by one party. 3. Involving or affecting only one side or one party.

  • 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 risk that insurance firms will not assume. When the risk cannot be transferred to a surety, supply management personnel need to confer with an insurance professional or a risk manager. (Business, 2002)

  • Union Shop

    An employment setting in which all workers must join the union usually within 30 days after being employed. (Business, 2002)

  • Unit Cost

    The cost of a unit of product or service, found by dividing the total costs for a given period of operation by the number of units produced in that period of operation.

  • Unit Labor Cost

    Hourly wage rate divided by output per labor-hour. (Schiller, 2000)

  • Unit of Measure

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

  • Unit of Order

    CANADIAN Order quantity, such as 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.
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