Which of the following best explains 'a framework agreement'?
A) An agreement to establish contractual payments.
B) An agreement to establish contractual terms such as the quantities envisaged.
C) Purchaser rights.
D) Supplier obligations.

Question

Which of the following best explains 'a framework agreement'? 
A) An agreement to establish contractual payments. 
B) An agreement to establish contractual terms such as the quantities envisaged. 
C) Purchaser rights. 
D) Supplier obligations.

Quizplus · Accepted Answer

A framework agreement establishes the terms and conditions under which contracts will be awarded in the future. This includes things such as the quantities envisaged, pricing, and other contractual terms that will be used for future procurements.

Which of the Following Best Explains 'A Framework Agreement