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Two-Bin System
An inventory control system in
which identical stock is stored in two separate
bins, with the stock in the second bin equal to
that calculated for the order point.
Withdrawals are made from the first bin and a
requisition to replenish the supply is
generated when that bin is emptied.
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Two-Step Procurement
A procurement
conducted in two stages, usually a first phase
to evaluate technical proposals, and a second
phase to evaluate price.
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Tying Arrangement
A supplier-imposed restraint
in which the purchaser is forced to buy an
unwanted item to acquire the desired one.
See also: Sherman Antitrust Act.
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UCC
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UL
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Ultra Vires Action
An action that is beyond the
powers granted by authority or by law.
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UMA
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Unallowable Cost
Expense incurred by the
contractor that does not meet the authorized
criteria under the contract terms.
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Unbalanced Bid
A bid that contains pricing
aberrations. This may happen in time and
material contracts or in construction contracts
in which upfront payment may be made for
mobilization. Unbalanced bids may be
deemed to be non-responsive and may be
both mathematically and materially
unbalanced. Many public entities use a bid
analysis procedure to help identify
unbalanced bids. (Martin and Miller 2006)
See also: Front-End Loading.
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Unbundling
Dividing a service into smaller
portions to encourage competition. Frequently
done on the basis of geography. For example,
a large service area, such as a city or county,
is divided into smaller geographical regions.