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O P Q R S T U V W X Y Z

ACCEPTANCE - The act of an authorized representative of the Government by which the Government assumes ownership of existing and identified supplies tendered or approves specific services rendered, as partial or complete performance of the contract on the part of the contractor.

ACO - Administrative Contracting Officer (see (Contracting Officer)

ADEQUATE PRICE COMPETITION - Exists if offers are solicited and at least two responsible offerors submit acceptable independent offers.

ADVANCE PAYMENT BOND - A bond which secures the performance and the fulfillment of a contractual provision for making of advance payments.

ADVANCE PAYMENTS - Payments made you a contractor in advance of performance.

A-E CONTRACTS - Architect - Engineer Contracts.

AFFIRMATIVE ACTION COMPLIANCE PROGRAM (EEO) - Prime contractors and subcontractors with 50 or more employees performing contracts or subcontracts of $50,000 or more are required to develop a written affirmative action compliance program for each of their establishments within 120 days from commencement of their first such Government contract or subcontract.

ALLOCABILITY OF COSTS - A cost is allocable if it is assignable or chargeable to one or more cost objectives in accordance with the relative benefits received or other equitable relationship.

ALLOWABLE COSTS - Costs which may be charged against the Government in cost reimbursement contracts

AVAILABILITY OF FUNDS, CONTRACTS CONDITIONED UPON - At times, generally near the end of a fiscal year, it is necessary to award contracts in one fiscal year which will be funded in the following fiscal year. In such instances, no deliveries can be accepted until funds are made available and the contracting officer so notifies the contractor.

BASIC ORDERING AGREEMENT (BOA) - A BOA includes a description of the supplies to be furnished or services to be performed when ordered, and a description of the method for determination of the prices to be paid.

BIDDERS MAILING LISTS - A list maintained by the purchasing office of all eligible and qualified bidders who have submitted bidders mailing list applications, or whom the purchasing office considers capable of filling the requirements of a particular acquisition.

BID GUARANTEE - A form of security accompanying a bid or proposal as assurance that the bidder will not withdraw his bid within the acceptance period, and will execute a written contract and furnish such bonds as may be required

BID SAMPLE - A sample required by the invitation for bids (IFB) to be furnished by a bidder as part of his bid to show the characteristics of a product offered in his bid.

BILLING RATES - A tentative overhead rate established for interim reimbursement purposes pending negotiation of final overhead rates.

BLANKET DELIVERY ORDER (BDO) - A delivery order issued for a period of time (not greater than the period of funds availability). Scheduling of deliveries is accomplished later and may be delegated to the requiring activity.

BLANKET PURCHASE AGREEMENT (BOA) - A simplified method of filling anticipated repetitive needs for small quantities of supplies or services by establishing "charge accounts".

BOILER PLATE - General provisions required by laws and regulations to be included in all DOD contracts.

BUY AMMERICAN ACT - 41 USC 10 10a-d, restricts purchases of foreign products by the Department of Defense.

BUYER - An individual, other than a contracting officer, whose duties involve the purchasing of supplies and services. The buyer's duties may also include work connected with the administration of those contracts which the office has retained the administration state contracts. The buyer's authority is derived from the contracting officer (the buyer is the contracting officer's "employee") and limited by the contracting officer for whom the buyer works.

CALLS (in connection with BPAs) - The ordering of supplies or services from a BPA holder under the terms of the BPA.

CERTIFICATE OF COMPETENCY (COC) - The Small Business Administration has statutory authority to certify the competency of any small business concern as to all elements of responsibility, such as; capability, credit, integrity, perseverance, capacity, etc. (i.e. , the ability to meet quality, quantity, time requirements of the proposed contract.) Contracting officers are required to accept the SBA's certification as conclusive.

CERTIFICATE OF CURRENT COST OR PRICING DATA - A certification of the accuracy, completeness, and currency of cost or pricing data which may be required to submit upon reaching agreement on the contract price.

CHANGE ORDER - A written order, signed by the contracting officer, directing the contractor to make changes which the Changes Clause of the contract authorizes the contracting officer to order without the consent of the contractor.

CLASSIFIED CONTRACT - Any contract that requires or will require access to classified information by the contractor or contractor employees in performance of the contract.

COMPTROLLER GENERAL DECISIONS - Decisions by the Comptroller General of the United States. Serve to interpret the meaning and applicability of acquisition practices and procedures.

COMPETITIVE RANGE - Determined by the contracting officer. It is based on the price or cost, technical, and other salient factors of the proposals and includes all proposals that have a reasonable chance of being selected for award.

COMPONENTS - Those articles, materials, and supplies, which are directly incorporated in end products.

CONSTRUCTION MATERIALS - Articles, materials, and supplies, which are brought to the construction site for incorporation in the building or work.

COMPTROLLER GENERAL DECISIONS - Decisions by the Comptroller General of the United States. Serve to interpret the meaning and applicability of acquisition practices and procedures.

CONSTRUCTIVE CHANGE - The legal principle by which the Courts can hold the Government liable for action taken by contractors in reliance upon the instructions of persons who appear to have , but do not actually have authority to change contract terms. An example would be a civil engineer inspector who causes a paving contractor to use a different subsurface material than that specified in the contract.

CONTINGENT FEE - In general, the payment by the contractor of any fee, whether called commission, percentage, brokerage, or contingent fee, or otherwise denominated, is prohibited if any portion of it is dependent upon success in obtaining or securing the Government contract involved.

CONTRACT - Includes all types of agreements and orders for the purchase of supplies or services.

CONTINUED PORTION OF THE CONTRACT - That portion of a partially terminated contract which relates to work or end items not already completed and accepted prior to the effective date of termination and which the contractor must continue to perform.

CONTRACT ADMINISTRATION OFFICE (CAO) - The office which performs assigned functions related to the administration of contracts and assigned pre-award functions.

CONTRACTING AGENCY - Any department, agency, establishment, or instrumentality in the Executive Branch of the Government, including any wholly-owned Government corporation which enters into contracts.

CONTRACT ADMINISTRATOR (CA) - An individual, other than a contracting officer, assigned to a contract administration office whose duties involve work in connection with the administration of contracts. The contract administrator's authority is derived from and limited by the contracting officer for whom the individual works.

CONTRACT AUDITOR - The DCAA auditor assigned the responsibility for performing financial reviews and analyses requiring access to the contractor's records supporting cost data.

CONTRACT FINANCING - Financial assistance provided to qualified and otherwise capable contractors in performing Government contracts by the Government.

CONTRACT LINE ITEM - A separately identified item of the contract schedule.

CONTRACT MODIFICATION - Any written alteration in the specification, delivery point, contract period, price, quantity, or other contract provisions of an existing contract.

CONTRACT QUALITY REQUIREMENTS - The detailed requisites for quality incumbent on the contractor.

CONTRACT SUBLINE ITEM - A subdivision of a contract line item.

CONTRACTING OFFICER - Any person who, in accordance with FAR, has the authority to enter into and administer contracts, make determinations and findings with respect thereof, or who has any part of such authority. For convenience, refers to a contracting officer at a purchasing office as a Procuring Contracting Officer (PCO); a contracting officer at an administration office as an Administration Contracting Officer (ACO); and an officer who is responsible for settling terminated contracts as a Terminating Contracting Officer (TCO).

CONTRACTOR'S CLAIM - Any claim asserted by a contractor for compensation in accordance with a provision of the contractor.

COST ACCOUNTING STANDARDS - Required of certain contractors for use in connection with Government contracts by PL 91-379, 50 USC App. 2168, and the Cost Accounting Standards Board.

COST ANALYSIS - The review and evaluation of a contractor's cost or pricing data and judgmental factors applied in projecting from the data to the estimated costs. In order to form an opinion on the degree to which the contractor's proposed costs represent what performance of the contract should cost, assuming reasonable economy and efficiency.

COST OR PRICING DATA - All facts existing up to the time of agreement on price which prudent buyers and sellers would reasonably expect to have significant effect on the price negotiations.

CURE NOTICE - A pre-termination for default notice sent to warn the contractor that if unacceptable performance is not corrected within a specified period of time the contract will be terminated for default (TFD). DATA - Recorded information regardless of form or characteristics.

DEBARRED, INELIGIBLE, AND SUSPENDED FIRMS AND INDIVIDUALS - Firms and individuals to whom contract awards, including sales, will not be made and from whom bids or proposals will not be solicited. A joint Consolidated List is these firms and individuals is maintained.

DELINQUENCY - The actual or potential failure of a contractor to meet the delivery or performance schedule of the contract.

DELIVERY ORDER - An order under an Indefinite Delivery type contract which schedules deliveries.

DIRECT COST - Any cost which can be identified specifically with a particular final cost objective.

DISBURSING OFFICER - The officer or agent of the office designated as the paying office under the contract.

DISCLUSURE STATEMENT - In connection with cost accounting standards, required to be inserted in most solicitations which are likely to result in negotiated contract awards exceeding $100,000.

DISPUTES AND APPEALS - When a controversy in connection with a contract cannot be settled by agreement, the contracting officer renders a final decision in accordance with the Disputes Clause of the contract. In accordance with that clause, the contractor has the right to appeal the decision.

ECONOMIC PRICE ADJUSTMENT - Contract provision that permits upward or downward adjustment of the contract price by relating the price to something which neither the Government nor the contractor can control.

END PRODUCT - Articles, materials, and supplies which are to be acquired for public use.

ENGINEERING CHANGE PROPOSAL - Documentation submitted by the contractor to provide information in connection with a proposed engineering change in a contract.

FACILITIES CONTRACT - A contract under which the Government provides facilities to a contractor or subcontractor for use in connection with the performance of a separate contract.

FAST PAYMENT PROCEDURE - A small purchase procedure that provides for payment for supplies based on the contractor's submission of an invoice which constitutes a representation that the supplies have been delivered to a post office, common carrier, or point of first receipt by the Government, and that the contractor agrees to replace, repair, or correct supplies not received at destination, damaged in transit or not conforming to purchase agreements.

FEDERAL ACQUISITION REGULATION (FAR) - Uniform polices and procedures relating to the acquisition of supplies and services. The Defense Federal Acquisition Regulation Supplement (DFARS) are supplementary regulations that are issued by the DOD.

FEDERAL PRISONS INDUSTRIES, INC - The agency of the Department of Justice that is concerned with the manufacturing of supplies or performance of services in Federal penal and correctional institutions.

FEDERAL SUPPLY SCHEDULES - The list of contractors for common use supplies and services, and the supplies and services that may be purchased from them.

FEDERAL SUPPLY SCHEDULE CONTRACTS - Contracts established by the General Services Administration (GSA) for common use classes of supplies and services.

FIRST ARTICLE - Preproduction models, initial production samples, test samples, first lots, pilot models, pilot lots, etc. A provision requiring first article approval may be included in a contract to require testing and evaluation of the first article for conformance with contract specifications before commencement of production runs under the contract. FMS - Foreign Military Sales.

FOREIGN END PRODUCT - An end product other than a domestic source end product.

GENERAL PROVISIONS - Part II, Section I, of the contract or solicitation. Contains applicable provisions, and modifications thereto.

GOCO - An industrial type facility that is Government Owned and Contractor Operated.

GOLD PLATING - Used in reference to specifications that require an item to be more elaborate than necessary to accomplish its intended purpose.

GOVERNMENT CONTRACT - Any agreement or modification thereof between an contracting officer of the Department of Defense and any person for the furnishing of supplies or services for the use of real or personal property, including lease agreements.

GOVERNMENT-FURNISHED PEROPERTY (GFP) - Property owned by the Government and delivered or otherwise made available to the contractor.

GOVERNMENT PROCUREMENT QUALITY ASSURANCE - The Government function by which the Government determines whether a contractor has fulfilled the contract obligations pertaining to quality and quantity.

GOVERNMENT PROPERTY - All property owned by or leased to the Government or acquired by the Government under the terms of a contract. GSA - General Services Administration.

GSA SUPPLY CATALOG - A catalog of the items of supply carried in stock in GSA Stores depots.

HEAD OF CONTRACTING ACTIVITY (HCA) - The chief, commander, or other official in charge of a Procuring Activity.

INDEPENDENT COST ESTIMATE (ICE) - The Government's estimated cost used for program approvals, for establishing budget estimates, and as a baseline for evaluating offeror's proposals.

INDIRECT COSTS - One which because of their incurrence for common or joint objectives, are not readily subject to treatment as direct costs.

INSPECTION - The examination and testing of supplies or services to determine whether they conform to contract requirements.

LATE BIDS - Bids received in the office designated in the IFB after the bid time set for opening. Generally, cannot be considered.

LETTER CONTRACT - A written preliminary contractual instrument which authorized immediate commencement of performance. It is to be superseded by a definitive contract at the earliest practicable date.

LIFE CYCLE COSTING - The practice of considering the anticipated total lifetime ownership and operating costs, as well as acquisition cost, in making contracting decisions concerning systems or items of equipment.

LIQUIDATED DAMAGES - When the Government expects to suffer some damage from the failure of the contractor to perform on time and the extent of such damage would be difficult or impossible to prove, a provision is included in the contract providing for the contractor to pay the Government a stipulated amount for each day the contractor is delinquent in his performance. Generally, included in construction contracts. May be included in other than construction contracts under certain circumstances.

LOCAL PURCHASE - The authorized purchase of materials, supplies, and services by an installation for its own use, or the use of an installation or activity logistically supported by it. Local purchase is not limited to the immediate geographical area in which the purchasing installation is located.

MAKE-OR-BUY PROGRAM - Part of a contractor's written plan which identifies the major subsystems, assemblies, subassemblies, and components to be manufactured, developed or assembled in the contractor's own facilities, and those which will be obtained elsewhere by subcontract.

MANUFACTURER - A person who owns, operates, or maintains a factory or establishment that produces on the premises the materials, supplies, articles or equipment required under the contract, and of the general character described by the specifications.

MATERIAL INSPECTION AND RECEIVING REPORT - The DD Forms 250 series which are used to document acceptance of supplies, services and shipments.

MILSTAMP (Military Standard Transportation and Movement Procedures) - Uniform documents and procedures for shipments in the DOD transportation system.

MILSTRIP (Military Standard Requisitioning and Issue Procedure) - A requisitioning and issue procedure for use by the Military Departments and contractors authorized by the terms of a contract to requisition or move Government material to supply control cognizance.

MISTAKES IN BID - If a bidder makes a mistake in bid that is not discovered or revealed until after bid opening, the bidder may be bound to the bid as stated, allowed to modify the bid, or be allowed to withdraw the bid.

MODIFICATION OF BID - A bidder may modify his bid only if the modification is received in the bid opening office prior to the time set for opening the bids.

MULTI-YEAR PROCUREMENT - A method for competitive contracting for known requirements for military supplies and services in the quantities and total cost not in excess of planned requirements for five years (four years in some instances), even though total funds ultimately to be obligated are not available to the contracting officer at the time of award. NAF - Non-appropriated funds.

NEGOTIATED FINAL OVERHEAD RATES - A percentage of dollar factor which expresses the ratio(s) mutually agreed upon by the Government and the contractor, at the close of a regularly stated period (preferably the contractor's fiscal year) of indirect expense incurred in the period of direct labor, manufacturing cost, cost of sales, or other appropriate base of the same period.

NEGOTIATOR - The person responsible for conducting negotiations. Frequently, but not always, the contracting officer.

NON-CONFORMING SUPPLIES AND SERVICES - Those supplies and services that do not conform wholly to the terms of the contract. By policy, they should normally be rejected.

NON-PROFIT ORGANIZATION - Any corporation, foundation, trust, or installation operated for scientific, education, or medical purposes, not organized for profit, no part of the net earnings of which inures to the benefit of any private shareholder or individual.

NON-RECURRING COSTS - One time costs which do not recur during the life of the contract. It is important to know how a prospective contractor has handled non-recurring costs to effectively evaluate competing proposals.

NOTICE OF TERMINATION - The written notice to the contractor effecting the termination and providing him with necessary details.

OFF-THE-SHELF ITEM - An item produced and stocked by a contractor prior to the contractor receiving orders or contracts for the sale of the item.

OPTION CLAUSE - A provision in a contract under which, for a specified time, the Government may elect to purchase additional quantities of supplies or services called for by the contract, or may elect to extend the period of performance of the contract.

OR EQUAL - See "Purchase Description". OSHA - Occupational Safety and Health Act of 1070. OSD - Office of the Secretary of Defense.

OVERHEAD (INDIRECT COSTS) - The general groups of indirect expenses generated in various departments in a company and other categories of general expenses.

PARTIAL TERMINATION - The termination of a part, but not all, of the work which has not been completed and accepted under a contract.

PAYING OFFICE - The office that makes payments under the contract.

PAYMENT BOND - A bond issued in connection with a contract which secures the payment of all persons supplying labor and material in the persecution of the work provided for in the contract.

PCO - Procuring Contracting Officer, see Contracting Officer.

PERFORMANCE BOND - A bond which is executed in connection with a contract and which secures the performance and fulfillment of the contract.

PERFORMANCE INCENTIVE - Contract provisions which incorporate incentives into the contract to encourage the contractor to surpass stated performance targets by varying the fee or profit in relation to the achievement of targets.

PLACE OF ACCEPTANCE - Must be specified in the contract. It is normally the place where quality assurance is performed.

PLANT CLEARANCE - All actions related to the screening, redistribution, and disposal of contractor inventory from a contractor's plant or work site.

POST-AWARD CONFERENCE - A conference held after award of contract to insure that the contractor clearly understands the scope of the contract, its technical provisions, and the rights and obligations of all involved parties.

PRE-AWARD SURVEY - An evaluation by a contract administration office of a prospective contractor's capability to perform under the terms of a proposed contract.

PRE-AWARD SURVEY MONITOR - The person designated to administer the pre-award survey.

PRE-BID CONFERENCE - A procedure used, generally in complex procurements, as a means of briefing prospective bidders and explaining complicated specifications and requirements to them as early as possible after the invitation has been issued and before the bids are opened.

PRE-PRICED BPA - A BPA containing firm unit prices.

PRICE ANALYSIS - The process of examining and evaluating a prospective price without evaluation of the separate cost elements and proposed profit of the individual prospective supplier whose price is being evaluated.

PROCUREMENT - Includes all functions that pertain to the obtaining of supplies and services, including description (but not determination) of requirements, selection and solicitation, of sources, preparation and award of contracts, and all phases of contract administration.

PRODUCTION SCRAP - Material generated as a scrap in the normal production processes having only a re-melting or reprocessing value.

PRODUCTION SURVEILLANCE - The part of Government contract administration directed toward (1) determining the degree of progress made by a contractor in meeting his contract delivery or performance schedule, and (2) identifying factors which may delay delivery or performance.

PROFIT - The basic motive of business enterprise. It is the policy of the Department of Defense to utilize profit to stimulate efficient contract performance.

PROGRESS PAYMENTS - Payments made to the contractor as work progresses.

PROPERTY - The term includes all property, both real and personal.

PROVISIONAL ITEM - Any support-type item selected through provisioning procedures to support an end item of equipment.

PURCHASE DESCRIPTION - Used in lieu of a specification to set forth the essential physical and functional characteristics of the required supply or service. It shall not be written so as to specify the product, or particular feature of a product, peculiar to one company. The minimum acceptable description, to use only when no better description can be developed, is identification of the requirement by brand name followed by the words "or equal"

PURCHASE REQUEST - The initiating document for most procurement actions. It must be on the proper form, contain a complete description of the supplies or services desired, cite the appropriate funds, and be signed by the appropriate officials.

PURCHASING OFFICE - The office which awards or executes a contract for supplies or services, and performs post-award functions not assigned to a contract administration office.

QA - Quality Assurance.

QAR - Quality Assurance Representative.

QUALIFIED PRODUCTS LIST (QPL) - Sometimes it is necessary to test a product in advance of any procurement to determine if the product will meet specification requirements. A list of products that meet or exceed the appropriate specification is maintained. In purchasing products where such testing is required, awards may be made only to suppliers of products that have passed qualification tests.

RATIFICATION - The process for making official the acts of a person who acted without the requisite authority.

REASONABLE COST - One which does not exceed that which would be incurred by an ordinarily prudent person in the conduct of competitive business.

REGULAR DEALER - A person who owns, operates, or maintains a store, warehouse, or other establishment in which materials, supplies, articles, or equipment of the general character described by the specifications and required under the contract are bought, kept in stock, and sold to the public in the usual course of business.

REJECTION OF BIDS - All bids are to be rejected if the solicitation is cancelled after opening. Individual bids are to be rejected when they fail to conform to the requirements of the IFB ( other than minor informalities or irregularities.

REPORTABLE PROPERTY - Contractor inventory which must be reported or screened.

REPROCUREMENT OR REPURCHASE - Where the supplies or services are still required after Termination for Default (T for D), repurchase of supplies or services which are the same as or similar to those called for in the contract shall be made against the contractor's account as soon as practicable after termination.

RESPONSIBLE CONTRACTOR - A prospective contractor who has the capability (for example, can meet the minimum requirements) to perform on the proposed contract.

RESPONSIVE CONTRACTOR - A prospective contractor whose offer (bid, proposal, or quotation) complies with all material aspects of the solicitation.

SCRAP - Property that has no reasonable prospect of being sold except for the recovery value of its basic material content.

SET-ASIDE - Procurements or portions thereof may be set-aside for the exclusive participation of small business and/or HUBZones.

SETTLEMENT PROPOSAL - A termination claim submitted by a contractor or subcontractor in the form, and supported by the necessary data.

SHARING ARRANGEMENTS - The arrangements for sharing Value Engineering (VE) savings between the contractor and the Government.

SHOW CAUSE NOTICE - A pre-Termination for Default notice sent to the contractor giving a specified period of time to show cause why the contract should not be terminated for default.

SMALL AND DISADVANTAGED BUSINESS UTILIZATION SPECIALIST - A person appointed for each principal contracting and contract admi nistration office who is responsible for implementing policies regarding procuring from small and small disadvantaged business sources.

SMALL PURCHASE PROCEDURES - Acquisitions of less that $25,000.00. SOLE SOURCE - The only source from which the needed supplies or services can be obtained.

SOW - Statement of Work. The written statement of work to be accomplished under a contract.

SPECIAL TOOLING - All jigs, dies, etc., and replacements thereof, which are of such a specialized nature that their use is limited to particular supplies or services.

START-UP COST - A non-recurring cost.

STATUTORY COST LIMITATIONS - When applicable, these limit the price at which a construction contract may be awarded.

SUPPLIES - All property except land or interest in the land.

SUPPLEMENTAL AGREEMENT - Any contract modification that is accomplished by the mutual action of the parties.

SUPPORTING CONTRACT ADMINISTRATION - The performance by another contract administration office of specific contract administration functions as required by the office to which the contract has been assigned for administration.

SURPLUS PROPERTY - Contractor inventory not required within the DOD or by other Federal agencies.

TCO - Termination Contracting Officer, see contracting officer.

TELEGRAPHIC BIDS - Bids by telegram. Generally prohibited.

TERMINATED PORTION OF THE CONTRACT - That portion of a terminated contract which relates to work or end items not already completed and accepted prior to the effective date of termination, and which the contractor is not to continue to perform.

TERMINATION CLAIM - A claim asserted by the contractor or a subcontractor for compensation for the termination of the prime or subcontract.

TERMINATION FOR CONVENIENCE (TFD) - A termination for any reason other than default.

TERMINATION FOR DEFAULT - The exercise of the Government's contractual right to terminate the contract in whole or in part by reason of the contractor's failure, actual or anticipatory, to perform his obligations under the contract.

TERMINATION INVENTORY - Any items of physical property purchased, supplied, manufactured, furnished, or otherwise acquired for performance of the terminated contract, and properly allocable to the terminated portion of the contract.

TERMINATED SETTLEMENT - The settlement agreement between the Government and the contractor settling the termination claim.

UNTIED STATES END PRODUCT - An unmanufactured end product which has been mined or produced in the United States, or an end product manufactured in the United States, if the cost of its components which are mined, produced, or manufactured in the United States exceeds 50 % of the cost of all its components.

UNPRICED PURCHASE ORDER - A purchase order for supplies or services the price of which is not established at the time of issuance of the order.

UNSOLICITED PROPOSAL - A research and development proposal made to the Government by a prospective contractor without prior formal or informal solicitation from a purchasing activity.

VALUE ENGINEERING (VE) - The systematic and creative effort to analyze each contract item or task to ensure that its essential function is provided at the lowest overall cost.

VARIATION IN QUANTITY - Product over-run or under-run is normal commercial practice for certain industries. Contracts for the products of such industries should include a Variations in Quantity Clause defining the acceptable limits of the over-run or under-run.

VOLUNTARY REFUND - A payment or credit not required by any contractual or other legal obligation, made to the Government by a contractor or subcontractor either as payment or as an adjustment under one or more contracts or subcontracts. It may be unsolicited or it may be made in response to a request by the Government.

WAGE DETERMINATIONS - Issued by the Secretary of Labor. They reflect the prevailing wages in the area, and are the minimum amounts that a contractor must pay to employees on a Government construction contract.

WARRANTY - A promise or affirmation given by a seller to a purchaser regarding the nature, usefulness, or condition of the supplies or performance of services to be furnished. The use of warranties is restricted in Government contracts.

WITHDRAW OF BID - A bidder may withdraw a bid only if the request for withdrawal is received in the bid opening office prior to the time set for opening the bids.

WORK IN PROCESS - For financial reporting means material which has been released to the production element.

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