Nonprocurement Transaction Law and Legal Definition
According to 2 CFR 180.970 (Title 2, Grants and Agreements; Subtitle A, Office of Management and Budget Guidance for Grants and Agreements ; Chapter I, Office of Management And Budget Governmentwide Guidance For Grants And Agreements Part 180, OMB Guidelines to Agencies on Governmentwide Debarment and Suspension (Nonprocurement);Subpart I – Definitions) the term “Nonprocurement Transaction” means “any transaction, regardless of type (except procurement contracts), including, but not limited to the following:
(1) Grants.
(2) Cooperative agreements
(3) Scholarships.
(4) Fellowships.
(5) Contracts of assistance.
(6) Loans.
(7) Loan guarantees.
(8) Subsidies.
(9) Insurances.
(10) Payments for specified uses.
(11) Donation agreements.
(b) A nonprocurement transaction at any tier does not require the transfer of Federal funds.”
Legal Definition list
- Nonpersonal Time Deposits
- Nonperishable Processed Food [Food and Drugs]
- Nonperforming Asset
- Nonpartisan Election
- Nonparticipating Referral Provider
- Nonprocurement Transaction
- Nonprofit Actions [Agriculture]
- Nonprofit Agency
- Nonprofit Elementary or Secondary School [Education]
- Nonprofit Entity
- Nonprofit Food Establishment [Food and Drugs]
Related Legal Terms
- ABC Transaction [Oil & Gas]
- Agency Transaction (Securities)
- Alternative Mortgage Transaction [Banks & Banking]
- Arms Length Transaction
- Asset Exchange or Conversion Transaction
- Automated Transaction
- Basket Transactions
- Bona Fide Hedging Transactions and Positions
- Colorable Transaction
- Commodity Option Transaction
