Q:

What is a call-off contract?

A:

Quick Answer

A call-off contract specifies terms, conditions and prices with suppliers of goods and services. These umbrella contracts are long term from 3 to 5 years, and the contract is legally binding.

Know More
What is a call-off contract?
Credit: Paul Bradbury OJO Images Getty Images

Full Answer

One example of this umbrella-type contract is ongoing repair work, such as that required at apartment complexes or office buildings. The purchase of office supplies or consumables is another example, as well as purchasing and replacing IT equipment. Public tendering with competitive bidding is not necessary with call-off contracts. A major benefit is contractual certainty; the client is assured a long-term commitment to its project and the suppliers secure long-term work.


Is this answer helpful?

Similar Questions

  • Q:

    What is a caregiver contract?

    A:

    A caregiver contract, or personal care agreement, is a contract between a person providing care and the recipient of this care. It defines the terms of care and any compensation for its provision. The contract establishes expectations and is important to protect both parties.

    Full Answer >
  • Q:

    Why is an investment contract needed?

    A:

    An investment contract defines the rights and responsibilities of investors and host governments in a project, according to NASDAQ. It is also used to specify and protect the interests of investors in a business, according to Rocket Lawyer. The document is also known as an investment agreement or a shareholders agreement. Among other things, investment contracts are used to forestall or solve disputes between parties to the document.

    Full Answer >
  • Q:

    How do you write an addendum to a contract?

    A:

    When writing an addendum to a contract, it is important to reference the original contract in order to be as clear as possible. For serious contractual agreements, it is best to consult with an attorney to consider both the original contract and the addendum together.

    Full Answer >
  • Q:

    What are the advantages and disadvantages of communication?

    A:

    One of the advantages of communication is that it has the ability to enhance a person's personal and business relationships. Face-to-face communication offers the added advantage of being able to receive immediate feedback from the exchange. A disadvantage of communication is that differences in values, culture, language or geographic location sometimes play a part in sending mixed or misleading verbal messages.

    Full Answer >

Explore