A framework agreement refers to a document which records the terms of a how transactions or deals regarding a particular work/ task have to be dealt with in the course of time for which the framework agreement holds valid.
In other words the agreement records or specifies the benchmark for the details such as the quality of product if the agreement is in reference to sale / purchase of certain commodity, or the price of the commodity being transacted, or the quantity to be supplied etc.
Thus such an agreement which is aptly named mentions all the specifications in reference to the deal for which the agreement if framed. Keeping in view the purpose of this sort of an agreement utmost care must be paid while such agreement is being framed. Special attention must be paid to the adherence of the format for the agreement which is an essential part for the document.
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Sample Framework Agreement
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