Purchasing/Stores Glossary of Terms

Use this glossary to find important terms, phrases or acronymns found in the lexicon of University of Washington staff.

A |  B |  C |  D |  E |  F |  G |  H |  I |  J |  K |  L |  M

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

Ethics Law, State of Washington: As of January 1, 1995, the state has a revised and expanded ethics law. This legislation applies to all University faculty and staff, and in general, it prohibits employees from using their positions to receive something of value or benefit. Refer to the UW Handbook for additional information.

Fair and Reasonable Price: It is important that the price to be charged is "fair and reasonable." You may know that the price is fair based on your knowledge of what other companies charge for similar items. If you are not familiar with the items or this supplier, ask if the prices to be charged are the vendor's current price list (or you may already have a price list copy for reference). Also ask if the vendor offers any "educational discounts" or other discounts. If there is a "minimum order" charge for small dollar purchases, you may want to consider ordering more to avoid a minimum charge. If you believe a vendor's prices are not reasonable, do not place the order, but contact the commodity Buyer for advice.

FOB: "Free On Board" defines the point at which the University takes title to the goods. "FOB Destination" and "FOB Destination, Prepay and Add" provide the least liability to the University. "FOB Origin" leaves the University responsible for shipping problems [lost shipments or damaged goods]. Many vendors will ship "FOB Destination" if you ask for that when you are placing the order. If the order is not "FOB Destination" consider insuring the shipment.