What is a Bounty?:
A bounty is a reward or incentive offered by a member of the community for implementing an Ubercart feature. The incentive is usually money, but it could be whatever you think we will be willing to code for. A CD, computer monitor, 56" wide screen HDEF DLP, or Ferrari would work well. Peanuts, bananas, or Celine Dion tickets probably would not.
Why offer a bounty?:
You can do it to support the Uber-developers, to insure that a feature is implemented the way you want in the time frame you want, or to get rid of any excess cash you have laying around.
Any personal contract you make to get development done is not regulated. The person contacting you to do development or vouches for their own Uber-skills.