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National Institute of Plant Health Management Department of Agriculture & CooperationMinistry of Agriculture Government of Radiotelephone: 914024015374 Email: niphm@nic .in TeleFax: 914024015346 Rajendra
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An annual rate contract is a fixed agreement between parties that outlines the pricing for goods or services for a specific duration, typically one year.
Typically, businesses or organizations that engage in procurement or contracting of goods and services are required to file an annual rate contract.
To fill out an annual rate contract, one must provide details such as the parties involved, the scope of work, pricing terms, duration of the contract, and any specific conditions or obligations.
The purpose of an annual rate contract is to establish clear pricing and terms for recurring purchases, thereby providing cost predictability and simplifying the procurement process.
The information that must be reported typically includes the names of the contracting parties, description of goods or services, rate details, contract period, and any other relevant terms and conditions.
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