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Government Contracting Glossary
155 terms and definitions to help you understand federal procurement terminology.
II7 terms
IDIQ(Indefinite Delivery/Indefinite Quantity)
Indefinite Delivery/Indefinite Quantity - umbrella contract for task orders.
Official sourceIFB(Invitation for Bid)
Invitation for Bid - sealed bidding where lowest price wins.
Official sourceIncentive Fee
Variable fee tied to contractor achievement of specific cost, schedule, or performance targets.
Official sourceIncurred Cost
Actual costs recorded under a contract.
Indirect Costs
Costs not directly attributable to a specific contract.
Invoice
Bill submitted by contractor for payment.
ITAR(International Traffic in Arms Regulations)
International Traffic in Arms Regulations control the export of defense articles and services.
Official source
