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In this video tutorial, "What is a Framework Part 1: The Basics," the concept of a framework agreement is explained. A framework agreement is a multi-supplier contract that fosters long-term relationships with suppliers for delivering goods or services over time. The video highlights the benefits of frameworks for end users, such as access to compliant agreements and efficient spending without extensive due diligence. Additionally, the tendering process can be time-consuming, and frameworks streamline procurement, allowing suppliers to offer competitive pricing due to guaranteed business volume. This results in better value for users of the framework.