Dictionary of Procurement Terms

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Search Results: 31-40 of 50 results for “U”

  • United Nations’ Convention on Contracts for the International Sale of Goods (CISG)

    The United Nations facilitated the development of a uniform body of law to govern contracts for the international sale of commercial goods. Commonly referred to as CISG, its objective is much like the Uniform Commercial Code, projected to the international level. The CISG does not apply to the purchase of services. (Burt, Dobler, & Starling, 2003)

  • United States Code (USC)

    A consolidated and codification of all the general and permanent laws of the United States. The code provides an organized system for finding federal laws by title headings, primarily alphabetical and section. As officially published, the code is generally updated and reissued every six years. (Nash, Schooner, & O’Brien, 1998)

  • Universal Product Code (UPC)

    The UPC symbol is the barcode representation of the GTIN-12 which consists of twelve numeric characters that uniquely identify a company’s individual product. (GTIN Info)

  • 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 National 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), Florida Association of Public Procurement Officers (FAPPO), 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.

  • Unnecessarily restrictive

    A term used when specifications or terms and conditions limit competition arbitrarily, without reasonably promoting the fulfillment of the procurement needs of a contracting authority.

  • Unsecured Loans

    Loans backed only by the borrowers’ good reputation and previous credit rating. (Business, 2002)

  • Unsolicited Offer

    An offer submitted by a contractor/supplier or consultant in the absence of a bid or solicitation from a buyer. May be submitted in response to a perceived need but not in response to a buyer’s formal request.

  • Unstable Markets

    Markets that exhibit short-term fluctuations. Oil, minerals, agricultural products, and animal by-products typically dominate these markets. 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


    See Also: Universal Product Code (UPC)
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