Business Glossary - U

U

Undelivered Orders - The amount of orders for goods and services outstanding for which, the liability has not yet accrued. For practical purposes represents obligations incurred for which goods have not been delivered or services not performed.

Unfair Labor Practice - Action by either the employer or union which violates the provisions of EO 11491 as amended.

Uniform Commercial Code - Codification of uniform laws concerning commercial transactions. In SBA parlance generally refers to a uniform method of recording and enforcing a security interest or charge upon existing or to be acquired personal property.

Usury - Interest which exceeds the legal rate charged to a borrower for the use of money.