Glossary of Defense Contracting Terms (O)
This Glossary provides you with the most frequently used terms in government and military base contracting. Familiarity with the language of government contracting is essential for doing business with the Department of Defense (DoD) and working with contracting offices at military bases and DoD agencies. You may also find it helpful to use our master list of Acronyms frequently used in DoD contracting.
View ACRONYMS used in Defense Contracting
OFFER A response to a solicitation that, if accepted, would bind the offeror to perform the resultant contract. A response to an invitation for bids or a request for proposals is an offer. A response to a request for quotations is a quote not an offer.
OFFEROR A bidder on a government solicitation.
OFFICE OF THE CHIEF FINANCIAL OFFICER (OCFO) A branch of the General Services Administration (GSA) whose mission is to provide policy leadership in strategic planning, budgeting, and financial management.
OFFICE OF THE CHIEF PEOPLE OFFICER (OCPO) A branch of the General Services Administration (GSA) that provides customers with workforce, organization, and workplace business solutions.
OPTION A unilateral right in a contract by which, for a specified time, the Government may elect to purchase additional supplies or services called for by the contract, or may elect to extend the term of the contract.
OVERHEAD Indirect costs other than those related to general and administrative expense and selling expenses.
Guidance for Doing Business with Military Bases