Rate Contract (RC) definition
Rate Contract (RC) means the Contract Agreement entered into between the Purchaser and the Supplier, for supply of specified goods/services at specified price and terms & conditions during the period covered by the Rate Contract. .
Examples of Rate Contract (RC) in a sentence
The price to be quoted (Price as indicated in the price list less discount plus taxes and duty, if applicable) by the Tenderer under the Rate Contract (RC) should in no event exceed the lowest price to which the Tenderer sells the stores of identical description to any other organisation during the currency of Rate Contract.