The International Organization for Standardization (ISO) Guide to the expression of Uncertainty in Measurement (GUM) was developed to meet the demand for a standardized way of evaluating and expressing uncertainties. The Davies and Gray (D&G) titrimetry method is routinely used in nuclear safeguards for uranium accountability measurement and a statement of the uncertainty that can reasonably be attributed to the measured assay value is therefore of importance. A mathematical model for an uncertainty evaluation of D&G measurements in compliance with ISO GUM is presented. This is illustrated by a numerical example and the utilization of the uncertainty budget is explored.