An Annual Rate Contract (ARC) is a long-term agreement between Corporate Buyings and a supplier for the procurement of goods and services at pre-negotiated rates over a specified period, typically one year. This contract ensures price stability, continuous supply, and a streamlined procurement process, benefiting both parties.
Raw materials, machine parts
Hardware, software services
Maintenance, security
Medical supplies, equipment
Goods/services covered
Fixed rates, schedules
Typically one year
Compliance requirements
Timelines, logistics
Exit conditions
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