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Government Contracting
Glossary & Terminology

Your go-to reference for federal procurement acronyms, contract types, and acquisition terminology. Understand the language of government contracting.

8 terms found for letter L

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L
Labor Hour Contract
A contract type that provides for the procurement of services on the basis of direct labor hours at fixed hourly rates.
L
Labor Surplus Area
A geographical area identified by the Department of Labor as having concentrated unemployment.
L
Latent Defect
A defect that exists at the time of acceptance but cannot be discovered by reasonable inspection.
L
LES
Leave and Earnings Statement; the monthly pay stub.
L
LH
Labor Hour; a unit of measurement for the effort of one person for one hour.
L
Line Item
The basic structural element in a procurement instrument that organizes products or services for pricing and delivery.
L
Line Item Number
A numeric or alphanumeric format used to identify a specific line item in a contract.
L
Low Price Technically Acceptable
A source selection process where the award is made to the lowest priced proposal that meets technical requirements.

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