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Glossary of Terms Used for USAID's Automated Directives System (ADS) - Updated 07/15/2011 Partial Revision

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Term Definition
Facility

Any structure or group of closely located structures, comprising a manufacturing plant, laboratory, office or service center, plus equipment (USAID Automated Directives System - ADS - Chapter 528).

Facility Access Card (Fac)

An identification card issued to employees, detailees or contractors who do not qualify for a federal ID card or who do not represent USAID to other agencies (USAID Automated Directives System - ADS - Chapter 565).

Fact Finder

An individual from within or outside the Agency authorized to conduct a grievance investigation, including a hearing, and to submit a report of findings and recommendations to the Decision Officer (USAID Automated Directives System - ADS - Chapter 490).

Fair Market Value

Fair market value is the monetary value that an agency could reasonable expect to receive for an asset in a current sale between a willing buyer and a willing seller other than in a forced or liquidation sale (USAID Automated Directives System - ADS - Chapter 534).

Fair Value

Fair value is the price for which an asset could be bought or sold in an arm's-length transaction between unrelated parties (e.g., between a willing buyer and a willing seller) or the price (usually representative) at which bona fide sales have been consummated for products of like kind, quality, and quantity in a particular market at any moment of time (Source: SFFAS 6) (USAID Automated Directives System - ADS - Chapter 629).

Family - Authorized Dependents

(replaced by the term eligible family members (EFMs).).

Family And Medical Leave

An employee's entitlement to 12 administrative workweeks of unpaid leave for certain specified family and medical needs (An employee has the option of substituting paid leave in accordance with section 481.5.6) (USAID Automated Directives System - ADS - Chapter 481).

Family Member

Employee's spouse. parents of the employee and spouse. children, including adopted children and their spouses. parents. brothers and sisters and their spouses, and individuals related by blood or affinity whose close association with the employee is the equivalent of a family relationship (USAID Automated Directives System - ADS - Chapter 482).

Fasab

FASAB (Federal Accounting Standards Advisory Board) establishes accounting standards for the Federal Government. Statements of Federal Accounting Concepts (SFFAC) and Statements of Federal Financial Accounting Standards (SFFAS) are approved by the Secretary of Treasury, the Director of the Office of Management and Budget, and the Comptroller General. Once approved, FASAB standards apply across the Federal government unless excluded by legislation (USAID Automated Directives System - ADS - Chapters 620, 631).

Fast Pay

A payment method that allows payment to be made without evidence that supplies have been received. Instead, a contractor certification that supplies have been shipped may be used as the basis for authorizing payment. Payment may be made within 15 days after the date of receipt of the invoice (USAID Automated Directives System - ADS - Chapter 630).

Fedbizopps Notice

This is the required notice replacing the Commerce Business Daily (CBD) pre-solicitation notices. The format for that notice is part of the same FedBizOpps site where the notice is created and posted by authorized users (USAID Automated Directives System - ADS - Chapter 221).

Federal Accounting Standards Advisory Board (Fasab)

The Federal Accounting Standards Advisory Board established accounting standards for the Federal Government. Statements of Federal Financial Accounting Concepts (SFFAC) and Statements of Federal Financial Accounting Standards (SFFAS) are approved by the Secretary of the Treasury, the Director of the Office of Management and Budget, and the Comptroller General. Once approved, FASAB standards apply across the Federal Government unless excluded by legislation (USAID Automated Directives System - ADS - Chapter 620).

Federal Acquisition Regulation (Far)

The primary document containing the uniform policies and procedures for all executive agencies for acquisition of supplies and services with appropriate funds. It is issued as Chapter 1 of Title 48, Code of Federal Regulations (CFR) (USAID Automated Directives System - ADS - Chapters 302 and 330). The FAR (48 CFR Chapter 1) is the regulatory authority that implements uniform policies and procedures for the acquisition of supplies and services by Federal agencies (USAID Worldwide Purchase Card Program Manual, A Mandatory Reference for ADS Chapter 331).

Federal Benefit Program

Any program administered or funded by the Federal Government, or by any agent or State on its behalf, that provides cash or in-kind assistance in the form of payments, grants, loans, or loan guarantees to individuals (USAID Automated Directives System - ADS - Chapter 508).

Federal Claims Collection Standards

The Governmentwide debt collection standards published jointly by Treasury and the Department of Justice in Title 31 of the Code of Federal Regulations (CFR) Parts 900 through 904 (31 CFR Parts 900: 904) (TFM - DMS Managing Federal Receivables) (USAID Automated Directives System - ADS - Chapter 625).

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