Federal Aviation Administration
Fair Market Price (FMP)
The price the Commission determines for products and services on the Procurement List.
Federal Acquisition Regulation: The body of regulations that are the primary sources of authority governing the federal government procurement process.
Federal Acquisition Streamlining Act of 1994
Food and Drug Administration
Fair Labor Standards Act: A United States labor law that creates the right to a minimum wage, and "time-and-a-half" overtime pay when people work over forty hours a week. It also prohibits employment of minors in "oppressive child labor"
Fair Market Price
Freight on Board
Seller retains the risk of loss until the goods reach the buyer.
Purchaser pays shipping cost from factory or warehouse and gains ownership of goods as soon as it leaves its point of origin.
Freedom of Information Act
Federal Prison Industries
Federal Register: A daily publication of general and permanent, proposed rules legislation, and notices of federal government agencies and organizations.
Federal Supply Schedule or GSA Federal Supply Service
Fiscal Year: October 1 through September 30 for the federal government.