Common use of Rate Contract Clause in Contracts

Rate Contract. This is a Rate Contract whereby the prices are fixed,but the quantity to be supplied during the currency of the Rate Contract is not fixed and will be envisaged by the Direct Demanding Officers based on their actual requirement from time to time as per approval and duly concurred Materials Budgets Fund.

Rate Contract. This is a Rate Contract whereby the prices are fixed,, but the quantity to be supplied during the currency of the Rate Contract is not fixed and will be envisaged by the Direct Demanding Officers based on their actual requirement from time to time as per approval and duly concurred Materials Budgets Fund.