a system where the vendor bids units in advance for time and material contracts
(SO) – an offer from a vendor to provide specified goods and services directly from the vendor on an 'as and when' requested basis, at a pre-determined price. There is no acceptance of this offer on the part of government until a ministry or other public sector body accesses the standing offer. 6.3.2a
often referred to as deeds of standing offer, these arrangements set out the terms and conditions, including indicative pricing, under which a supplier agrees to supply specified goods or services to an agency for a specified period.