Under a XXXX contract, the buyer does commit to purchase a given quantity over a given period of time, but the precise number of orders and their quantities is unknown at the start of the period.
What expression has been replaced by XXXX?
A . Call-off
B . Framework
C . Oral
D . Term
Answer: A
Explanation:
The fact that the time period and the total quantity is known means it is a ‘call-off’ contract. The volumes of product are ‘called off’ from the contract as required by the buying organisation.
Make sure you understand the difference between a call-off contract and a framework arrangement.
Under a framework arrangement, there is no obligation on the part of the buyer to use the goods / services specified.
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