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Glossary D-E-F


Defective Pricing:
Inaccurate cost/pricing data, to include delivery orders placed against Federal Supply Schedules (FSS), certified by a contractor to be accurate, current, and complete.
Defense Acquisition Regulatory Council (DARC) :
A group composed of representatives from every military department, the Defense Logistics Agency, and the National Aeronautics and Space Administration, and that is in charge of the Federal Acquisition Regulation (FAR) on a joint basis with the Civilian Agency Acquisition Council (CAAC).
Defense Contractor:
Any person who enters into a contract with the United States for the production of material or for the performance of services for the national defense.
A report or product that must be delivered to the government by the contractor to satisfy contractual requirements.
A measure of the degree to which an item is operable and capable of performing its required function at any time during the life of the contract.
Direct Cost:
Any cost specifically identified as a final cost objective for a particular contract action. Includes cost factors such as direct labor and materials.
Direct Labor:
Labor required to complete a product or service. Includes fabrication, assembly, inspection and test for constructing an end product. Also, labor expended by contractor personnel in performing contractual requirements.
Direct Materials:
Includes raw materials, purchased parts and subcontracted items required to manufacture and assemble completed products. A direct material cost is the cost of material used in making a product.
Department of Defense. This United States federal agency deals with the armed forces and the military, and has specialized purchasing requirements in many cases
In budgetary usage, gross disbursements represent the amount of checks, cash, or other payments issued, less refunds received.


Effective Competition:
A market condition which exists when two or more contractors, acting independently, actively compete for an agency's business in a manner which ensures that the agency will be offered the lowest price or best technical design to meet its minimum needs.
Electronic Commerce (EC):
Electronic techniques for accomplishing business transactions including electronic mail or messaging, Web technology, electronic bulletin boards, purchase cards, electronic funds transfer and electronic data interchange.
Electronic Data Interchange (EDI):
A technique for electronically transferring and storing formatted information between computers, utilizing established and published formats and codes as authorized by the applicable Federal Information Processing Standards.
Electronic Posting System (EPS):
A method of posting notices of solicitations and the actual solicitations to the Internet. It allows businesses to register to receive email notification of opportunities in their area of interest. The single Government point-of-entry (GPE) for Federal Government procurement opportunities over $25,000 is at Federal Business Opportunities (FedBizOpps).
Emerging Small Business :
A small business concern whose size is no greater than 50 percent of the numerical size standard applicable to the Standard Industrial Classification code assigned to a contracting opportunity.
In the system, an Entity is a company or a governmental association. An entity is also known as a Buyer
An accounting term used to describe the net investment of owners or stockholders in a business. Under the accounting equation, equity also represents the result of assets less liabilities.
Determination of price adjustments based on increases or decreases to indexes specifically identified in the contract.
Evaluation Criteria:
Standards which are used to evaluate an offeror's technical and operational effectiveness.
A charge against available funds, evidenced by a voucher or a claim. Expenditure represents the actual payment of funds.


Facilities Contract:
Provides for the procurement, construction and installation of facilities or the use, maintenance, management, accountability, or disposition of facilities
Fair and Reasonable Price:
A price that is fair to both parties, considering the agreed-upon conditions, promised quality and timeliness of contract performance. "Fair and reasonable" price is subject to statutory and regulatory limitations.
Federal Acquisition Regulation (FAR):
The primary regulation used by all federal agencies in their acquisition of supplies and services with appropriated funds. It is issued within applicable laws under the joint authorities of the Administrator of General Services, the Secretary of Defense and the Administrator for the National Aeronautics and Space Administration, under the broad policy guidelines of the Administrator, Office of Federal Procurement Policy, Office of Management and Budget
The federal business web site that lists many federal
government procurement opportunities over $25,000. Government buyers are able to publicize their business opportunities by posting information directly to FedBizOpps via the Internet. Located at Was formerly in printed format as the Commerce Business Daily.
Federal Information Processing (FIP):
A machine or a group of inter-connected machines, consisting of input, storage, computing, control and output services. These services function by using electronic circuitry in the main computing element to perform logical operations automatically through internally stored or externally controlled programmed instruction.
Federal Solicitation:
A United States federal government request for proposals, bids, or information.
Federal Supply Schedule (FSS) Program:
A simplified process for procuring commonly used supplies or services by placing delivery orders against Federal Supply Schedule contracts which have been awarded by the General Services Administration (GSA) for use by all agencies.
FIP Resources:
A comprehensive term referring to all computer-related resources including computer hardware, firmware, software, personnel, documentation, supplies, services and support services.
Software that is built into integrated circuits in a permanent or semi-permanent form. Firmware lies midway between hardware and software in terms of performance and flexibility.
Fixed-Price Contract:
Contracts that provide for a firm price or, in appropriate cases, an adjustable price. Fixed price contracts providing for an adjustable price may include a ceiling price, a target price (including target cost) or both. Unless otherwise specified in the contract, the ceiling price or the target price is subject to adjustment only by operation of contract clauses providing for equitable adjustment or other revision of the contract price under stated circumstances. The contracting officer shall use firm-fixed price or fixed-price with economic price adjustment contracts when acquiring commercial items.
Acts of fraud or corruption or attempts to defraud an agency or to corrupt its agents, acts that constitute a cause for debarment or suspension under federal law or regulation. .
Full and Open Competition:
With respect to a contract action, "full and open" competition means that all responsible sources are permitted to compete.
Full and Open Competition After Exclusion of Sources:
All responsible sources which meet certain criteria, such as business size or location in a labor surplus area, are permitted to compete. These competitions are specifically authorized by the Competition in Contracting Act (CICA).
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Popular terms (Glossary)

Contract Award: Occurs when the contracting officer has signed and distributed the contract to, or notified the contractor.

Commerce Business Daily: A Department of Commerce publication used by federal agencies to publish a summary or synopsis of their upcoming procurements to notify interested businesses. Now largely replaced by the Fedbizopps internet site.

RFP - Request for Proposal: A process where an agency or government can seek a specific proposal from vendors. Follows a specifications process and formalized set of standards and procedures. Generally seeks less vendor input than an RFI but more than an RFQ.

>† Glossary:Index (all)

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