Federal Procurement Glossary

An agency is a federal government organization authorized to award and manage contracts.

An award is the formal decision by a federal agency to enter into a binding contract with a vendor for goods or services.

A CAGE Code is a unique five-character identifier assigned to suppliers and contractors doing business with the U.S. federal government.

A contract action is any federal government action that results in the award, modification, or termination of a contract or order.

Contract type refers to the structure of risk and payment terms agreed upon between the government and a contractor for a specific procurement.

A contracting office is the federal organizational unit responsible for awarding and administering contracts.

Extent Competed indicates the level of competition used to award a federal contract action.

The federal agency that provides the funds for a contract action, which may differ from the agency executing the contract.

An IDV is a contract vehicle that allows agencies to place orders for supplies or services as needs arise, without committing to a fixed quantity or delivery schedule at award.

A modification is an official change to the terms, scope, price, or other aspects of an existing federal contract.

NAICS is the North American Industry Classification System code used to categorize the type of work performed under a federal contract.

An obligation is the amount of federal funds legally committed by an agency for a contract action.

A PIID is a unique code assigned to each federal contract, order, or modification for identification and tracking purposes.

A PSC (Product Service Code) is a standardized four-character code used to classify products, services, and research purchased by the U.S. federal government.

The geographic location where contracted work or services are performed or delivered.

Reason Not Competed indicates why a federal contract action was not awarded through full and open competition.

A set-aside is a federal procurement action that reserves an acquisition exclusively for eligible small businesses or specific socioeconomic groups.

A solicitation is a formal request issued by a federal agency inviting vendors to submit offers or bids for specific goods or services.

A UEI is a unique alphanumeric code assigned to identify entities doing business with the U.S. federal government.

A vendor is an entity that receives a federal contract award to provide goods or services to the government.