Standing Agreement (also referred to as a “Master Standing Agreement” or “Master Services Agreement”)

A standing agreement (abbreviated as “SA”) is a contract obligation between a buyer and supplier in which the buyer agrees to only purchase the specified goods and/or services from the contractor with which the SA is signed. Quantities and due dates for placed orders are not specified in a standing agreement, meaning that orders may be placed on an as-needed basis. On Tradogram, a “fixed” contract can be used to define item quantities and timeframes (for tracking the lifespan of the contract) for an SA. The contract can be used to place an order with flexible quantities and due dates using the stored terms at any time.