From the Oct. 29, 2013 Congressional Research Service report: Multiyear Procurement (MYP) and Block Buy Contracting in Defense Acquisition.

Multiyear procurement (MYP) and block buy contracting (BBC) are special contracting mechanisms that Congress permits the Department of Defense (DOD) to use for a limited number of defense acquisition programs. Compared to the standard or default approach of annual contracting, MYP and BBC have the potential for reducing weapon procurement costs by several percent. Read More →