Document background
The Framework Contract serves as a master agreement that sets out the principal terms governing future transactions between parties operating under Hong Kong law. It is particularly useful for businesses engaging in repeated transactions or ongoing services where specific details may vary but core terms remain constant. The document typically includes mechanisms for placing orders, pricing structures, service levels, and compliance requirements specific to Hong Kong's legal framework. Framework Contracts are commonly used in various commercial contexts, from supply chain management to professional services, and can accommodate both simple and complex commercial arrangements. The agreement should be tailored to reflect specific industry requirements while ensuring compliance with Hong Kong regulatory requirements, including those relating to electronic transactions, data protection, and competition law.
