Framework Contracts

A framework contract is an agreement between an organization and a supplier that sets the terms, conditions, and pricing for future purchases over a specific period. Instead of negotiating a new deal each time they buy something, the organization can quickly order goods or services within the agreed terms. This approach streamlines procurement, saves time, and provides consistency, especially when multiple purchases of similar items or services are expected. It acts as a flexible, pre-arranged arrangement that facilitates efficient buying while maintaining negotiated standards.