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Government Contracting Glossary

Terms, acronyms and definitions to help you understand federal procurement terminology.

135 resultados

Términos · I

IFB

Invitation for Bid - sealed bidding where lowest price wins.

Términos · I

Incentive Fee

Variable fee tied to contractor achievement of specific cost, schedule, or performance targets.

Términos · I

Incurred Cost

Actual costs recorded under a contract.

Términos · I

Indirect Costs

Costs not directly attributable to a specific contract.

Términos · I

Invoice

Bill submitted by contractor for payment.

Términos · I

ITAR

International Traffic in Arms Regulations control the export of defense articles and services.

Términos · L

Labor Categories

Defined skill levels and qualifications for contract personnel.

Términos · L

Labor Hour

Contract paying only for labor time without materials.

Términos · L

Legal Business Name

The official name of a business as registered with the IRS and state authorities.

Términos · L

LPTA

Lowest Price Technically Acceptable is an evaluation method where the lowest-priced acceptable offer wins.

Términos · M

Mentor-Protégé

Program pairing experienced contractors with small businesses.

Términos · M

Minimum Guarantee

Minimum amount the government commits to ordering under IDIQ contracts.

Términos · N

NAICS Code

North American Industry Classification System code identifying business industry.

Términos · N

NHO

Native Hawaiian Organization eligible for contracting preferences.

Términos · N

Notarized Letter

Legal document sometimes required to verify business authority in SAM.gov.

Términos · N

Notice of Award

Official notification to a contractor that they have been selected for contract award.

Términos · O

Obligation

Legal commitment of funds for a specific contract purpose.

Términos · O

OCI

Organizational Conflict of Interest occurs when a contractor's work creates an unfair competitive advantage.

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