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In this video, "What is a Framework Part 1: The Basics," the concept of a framework agreement is introduced. A framework agreement is a multi-supplier contract that fosters long-term relationships with suppliers for the delivery of goods or services. These agreements offer several benefits for end users, including access to compliant contracts and reduced time spent on the tendering process. Frameworks enable users to allocate their budget effectively without extensive due diligence. Additionally, suppliers can price competitively due to predictable business volumes, which ultimately provides better value to users of the framework.
