Terms · I
IFB
Invitation for Bid - sealed bidding where lowest price wins.
Government Contracting Glossary
Terms, acronyms and definitions to help you understand federal procurement terminology.
135 results
Terms · I
Incentive Fee
Variable fee tied to contractor achievement of specific cost, schedule, or performance targets.
Terms · I
Incurred Cost
Actual costs recorded under a contract.
Terms · I
Indirect Costs
Costs not directly attributable to a specific contract.
Terms · I
Invoice
Bill submitted by contractor for payment.
Terms · I
ITAR
International Traffic in Arms Regulations control the export of defense articles and services.
Terms · L
Labor Categories
Defined skill levels and qualifications for contract personnel.
Terms · L
Labor Hour
Contract paying only for labor time without materials.
Terms · L
Legal Business Name
The official name of a business as registered with the IRS and state authorities.
Terms · L
Liquidated Damages
Pre-determined daily penalty for late delivery.
Terms · L
LPTA
Lowest Price Technically Acceptable is an evaluation method where the lowest-priced acceptable offer wins.
Terms · M
Mentor-Protégé
Program pairing experienced contractors with small businesses.
Terms · M
Minimum Guarantee
Minimum amount the government commits to ordering under IDIQ contracts.
Terms · N
NAICS Code
North American Industry Classification System code identifying business industry.
Terms · N
NHO
Native Hawaiian Organization eligible for contracting preferences.
Terms · N
Notarized Letter
Legal document sometimes required to verify business authority in SAM.gov.
Terms · N
Notice of Award
Official notification to a contractor that they have been selected for contract award.
Terms · N
Notice to Proceed
Authorization to begin work on a contract.
Terms · O
Obligation
Legal commitment of funds for a specific contract purpose.
Terms · O
OCI
Organizational Conflict of Interest occurs when a contractor's work creates an unfair competitive advantage.
See how to find and track federal contracts
Get a walkthrough of contract search, saved opportunities and the bid tools included in each plan.