Document background
The Master Framework Agreement is designed for situations where parties anticipate an ongoing business relationship involving multiple transactions or services over time. It is particularly useful in the Indian business context where companies need a robust legal framework that complies with local laws while maintaining flexibility for future arrangements. This document type streamlines business operations by establishing standard terms upfront, reducing negotiation time for subsequent specific agreements. The agreement typically includes provisions for service orders or statements of work to be issued under its framework, incorporating specific details of each transaction while maintaining consistency with the master terms. It's especially relevant in today's dynamic Indian market where businesses require scalable and efficient contracting solutions that can accommodate growth and changing business needs while ensuring compliance with Indian contract law and regulatory requirements.
