| Description: |
An agreement signed by the government supplier and accepted by the government buyer. An agreement is a written instrument of understanding following negotiations between an agency and a government supplier, where terms such as pricing and/or discounts have been negotiated. An agreement does not guarantee a purchase volume, level, or value to the supplier; however, contains terms and clauses applying to future orders between the parties during its term; a description, as specific as practicable, of supplies or services to be provided; and methods for pricing, issuing, and delivering future orders under the agreement. It may include comprehensive terms and conditions, performance criteria or service level requirements that are expected and agreed to. Future orders will incorporate by reference or attachment the required and applicable clauses agreed upon in the agreement. |