Dictionary of Procurement Terms

Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Memorandum of Understanding (MOU)”

  • Memorandum of Understanding (MOU)

    A quasicontract generally entered into by government entities and private sector contractors who may be providing services to the government; it may also be entered into by inter-/intragovernment entities. An MOU details the essence of an agreement between the parties but lacks the enforceability of a contract.
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