Define: Standing Offer

How is Standing Offer defined in a legal contract?

• Standing Offer means an agreement where a contractor consents that they will provide [a service], intermittently as required and is validated by the superintendent through the issuance of [an order]. The contractor also affirms that while they are committed to the principal [organization], there is no binding condition on the principal stating that they must order a certain [number], or any, [service] during the life cycle of the contract. Seen in 132 SEC filings
• Standing Offer means it is a contract to [provide service] subject to specified terms and conditions where the principal [organization] is not obliged to order a certain [number], or any, [service]. Seen in 14 SEC filings
• Standing Offer means it is an offer in writing from an approved provider indicating a standing agreement to furnish [deliverables] to the [organization] upon request through an established ordering process during a specific timeframe, at a predetermined price or discount. Seen in 14 SEC filings
• Standing Offer means an offer from a supplier allowing [the organization] to purchase frequently ordered [goods], [services] or [construction] from suppliers at predetermined prices, under established terms and conditions, as and when requested. Seen in 11 SEC filings

Note: The Genie AI Legal Assistant pulled this data out of the SEC EDGAR Database of 500,000 records from the past 22 years of filings. We regularly update this page as new filings and definitions come in.

Search EDGAR for 'Definitions of standing offer' yourself to verify these results. We are always keen to point people to source documents.

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Which definition should you use?

🤔 Our AI Legal Assistant has combined and improved the above descriptions to create market-standard 'Genie definitions' below, with guidance on which documents and which industry to use for each.

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Genie Definition 1

• Standing Offer means an agreed readiness by a contractor to provide [services] as authorized, without a requirement for a specific [number] of orders.

Relevant Contract Types

• Service Agreement
• Consulting Agreement
• Professional Services Agreement

Relevant Circumstances

• Variations in demand for services
• Need for flexibility in ordering services
• Establishment of ongoing business relationships

Relevant Sectors

• Supply Chain and Logistics
• Professional Services
• IT & Technology
• Construction

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Genie Definition 2

• Standing Offer means a supplier's offer to sell frequently ordered [goods or services] at pre-determined prices, when requested.

Relevant Contract Types

• Sales Agreement
• Supply Agreement
• Purchase Agreement

Relevant Circumstances

• Regular purchase of similar products or services
• Establishment of ongoing supply relationships
• Fluctuations in demand for products or services

Relevant Sectors

• Retail and Consumer Goods
• Manufacturing
• Utilities
• Healthcare
• Hospitality

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