HomeGlossary
Government Contracting Glossary
155 terms and definitions to help you understand federal procurement terminology.
OO5 terms
Obligation
Legal commitment of funds for a specific contract purpose.
OCI(Organizational Conflict of Interest)
Organizational Conflict of Interest occurs when a contractor's work creates an unfair competitive advantage.
Official sourceODCs(Other Direct Costs)
Other Direct Costs - direct costs that aren't labor or materials.
Option Year
Additional contract period the government may exercise at their discretion.
Overhead
Indirect costs related to production or service delivery.
