Abacus Contract Management Definitions"Obligated Balance" means the amount of budget authority (BA) committed for specific purposes but not actually spent. "Obligation" means a duty to make a future payment of money. The duty is incurred as soon as an order is placed, or a contract is awarded for the delivery of goods and the performance of services. The placement of an order is sufficient. An obligation "legally" encumbers a specified sum of money which will require outlay(s) or expenditures in the future. "Obligation Authority" means "Ocean transportation" means any transportation aboard a ship, vessel, boat, barge, or ferry through international waters. "OFCCP." See "Office of Federal Contract Compliance Programs." "Off-the-shelf item," means an item produced and placed in stock by a contractor, or stocked by a distributor, before receiving orders or contracts for its sale. The item may be commercial or produced to military or Federal specifications or description. "Offer" means a response to a solicitation that, if accepted, would bind the offeror to perform the resultant contract. Responses to invitations for bids (sealed bidding) are offers called "bids" or "sealed bids"; responses to requests for proposals (negotiation) are offers called "proposals"; however, responses to requests for quotations (simplified acquisition) are "quotations," not offers. For unsolicited proposals, see Subpart 15.6. "Offer" means "bid" in sealed bidding. "Offer" and "offeror" include "quote" and "quoter" respectively, except as used in paragraph (h) of this provision. "Offeror" and "contractor" include an offeror's or contractor's subcontractors, suppliers, or potential subcontractors or suppliers at any tier. "Offeror" means offeror or bidder. "Offeror" includes "quoter." "Office furniture" means furniture, equipment, fixtures, records,
and other equipment and materials used in Government offices, hospitals, and similar establishments. "Office of Federal Contract Compliance Programs (OFCCP)". "Officer or employee of an agency," as used in this section, includes the following individuals who are employed by an agency: "Official" means: "Offset". See USD(AT&L)DP Point Paper: Offsets - Sale of Goods or Services to Foreign Governments, Dec 2001. "Ombudsman". See NASA-Specific FBO Numbered Notes ''B'' - Ombudsman. "One-time buy" and "final buy out" refer to a single contract which covers all known present and future requirements. This exception does not
apply to a multiyear contract or a contract with options or phases. "OPE." See Other plant equipment." "Operation" means operations and tests of the aircraft and its installed
equipment, accessories, and power plants, while the aircraft is in the open or
in motion. The term does not apply to aircraft on any production line or in
flight. "Operation of a system of records" means performance of any of the activities associated with maintaining the system of records, including the
collection, use, and dissemination of records. "Option" means a unilateral right in a contract by which, for a specified time, the Government may elect to purchase additional supplies or services called for by the contract, or may elect to extend the term of the contract. "Order" means an order placed under a task-order contract or
delivery-order contract awarded by another agency (i.e., a Federal Supply Schedule contract, Governmentwide acquisition contract, or multi-agency contract). "Ordering office" means any activity in an entity of the
Government that places orders for the purchase of supplies or services under the
JWOD Program. "Organizational conflict of interest" means that because of other activities or relationships with other persons, a person is unable or potentially unable to render impartial assistance or advice to the Government, or the person's objectivity in performing the contract work is or might be otherwise impaired, or a person has an unfair competitive advantage. "Original complement of low cost equipment" means a group of items acquired for the initial outfitting of a tangible capital asset or an
operational unit, or a new addition to either. The items in the group individually cost less than the minimum amount established by the contractor for capitalization for the classes of assets acquired but in the aggregate they represent a material investment. The group, as a complement, is expected to be
held for continued service beyond the current period. Initial outfitting of the unit is completed when the unit is ready and available for normal operations. "Original contract price" means the award price of the contract; or, for requirements contracts, the price payable for the estimated total quantity; or, for indefinite-quantity contracts, the price payable for the specified minimum quantity. Original contract price does not include the price of any options, except those options exercised at the time of contract award. "OSHA" means the Occupational Safety and Health Administration. "Other business expenses. See FAR 31.205-28 Other business expense. "Other eligible veteran" means any other veteran who served on active duty during a war or in a campaign or expedition for which a campaign badge has been authorized. "Other work" means any current or scheduled work of the
contractor, whether Government or commercial, other than work related to the
terminated contract. "Other participant" means a cooperative project participant other than the United States. "Other plant equipment" (OPE) means plant equipment regardless of dollar value, used in or in conjunction with the manufacture of components or
end items relative to maintenance, supply, processing, assembly or research and
development operations. OPE excludes equipment categorized as IPE. "OUSD(AT&L)DP" means the Director of Defense Procurement, Office of the Under Secretary of Defense (Acquisition, Technology and Logistics). "Outlying areas" means-- "Over and above work" means work discovered during the course of performing overhaul, maintenance, and repair efforts that is- "Overtime" means time worked by a contractor's employee in excess
of the employee's normal workweek. "Overtime premium" means the difference between the contractor's regular rate of pay to an employee for the shift involved and the higher rate
paid for overtime. It does not include shift premium, i.e., the difference
between the contractor's regular rate of pay to an employee and the higher rate
paid for extra-pay-shift work. "Ozone-depleting substance" means any substance the Environmental Protection Agency designates in 40 CFR part 82 as-- Need a definition? Clarification? Suggest a new term or definition? |