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MRO
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MRP
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MSDS
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Multi-Step Bidding
A method of source selection involving two competitive steps, combining the elements of both Invitation for Bids and Request for Proposals. The first step may require the submission of technical and price proposals with only the technical proposals being evaluated and scored. The second step involves the opening of price proposals of those firms who have achieved the highest technical scores.
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Multi-Year Contract
A procurement contract that extends for longer than one year.
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Multinational Corporation
A corporation that operates on a worldwide or global scale, without significant ties to any one nation or region. (Business, 2000)
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Multiple Award
Contracts awarded to more than one supplier for comparable supplies and services.
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Must
Denotes the imperative in contract clauses or specifications/statement of work. Also indicates a legal condition required to occur before a prescribed consequence will happen.
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Mutual Assent
In contracts, the agreement of each party to all the terms and conditions in the same context and with the same meaning.
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Mutual Termination
An action by all parties to a contract that ends the contract.