Long Term Arrangements
Long-term arrangements allow both parties to avoid negotiating rates each time a new deal is entered upon. The organisations can easily move ahead with their arrangement without having to re-negotiate the new terms. This will save the parties both time and money. These kinds of contractual arrangements are required to specify the terms and conditions for all long-term transactions between two or more parties. Such contracts are useful in industries where there a number of transactions have to be carried out between the service provider and the customer, each with its own scope of work.
