Definitions There are broadly two types of framework arrangements -framework contracts and framework agreements. Framework Contract A framework contract has a consideration of a monetary sum paid up front by the buying organisation to the supplier. This payment is made in order to create a contract on the terms and conditions offered by the supplier to the buying organisation so it is important to first ensure that the terms and conditions are correctly drafted so that the supplier is tied in to what has been agreed. Consideration is of course an essential element of the contract; without consideration, either party may withdraw at any time. The consideration may be a purely nominal sum which will, however, in the event of a dispute, normally be interpreted by the courts as confirmation that the parties are happy to be bound in the legal sense (see section below headed 'Consideration'). Other expressions associated with framework contracts include 'term contracts' which are generally framework contracts, but may also be encountered in other buyer/supplier situations and are arrangements put in place for a fixed period of time. These are sometimes referred to as 'period contracts'. Where a contract of this kind is put in place without a specified end date it is sometimes called a 'running contract' or 'perpetual contract'.
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