Glossary

UNAMBIGUOUS

Clear and not open to interpretation.

UNIFORM COMMERCIAL CODE (UCC)

A comprehensive modernization of various statutes relating to commercial transactions, including sales, lease, negotiable instruments, bank deposits and collections, funds transfers, letters of credit, bulk sales, documents of title, investment securities and secured transactions. The Minnesota law is found in Minn. Stat. Ch. 336.

UNINCORPORATED COMPANY

A company in which there is no legal distinction between the company and its owner.

UNION

A group of workers joined together in a specific type of organization for the purpose of improving working conditions.

UNIT LOAD

A standard unit that combines individual items to ensure easy and efficient handling.

UNIT PRICE

The price of a selected unit of a good or service (e.g., pound, labor hours, etc.).

UNSUCCESSFUL VENDOR

A vendor whose response is not accepted for reasons such as price, quantity, failure to comply with specifications, etc.

UP-SKILL

Increase the ability of an individual through training and personal development.

UPSTREAM ENVIRONMENTAL FACTORS

Impacts on the environment caused by the extraction of raw materials or the manufacture of goods being purchased.