Agreed documents are by juridical definition industry-specific, standard agreement, settled between buyer and seller. Typically, these are formulated by a committee, including buyer and seller representatives from major companies or organizations of the business. By referring to this set of standard formulations in every specific contract, the agreed documents are held legally binding. Agreed documents typically consider matters such as liability, cancellation, damages on third party, delimitations on warranties, right of interpretation and actions undertaken in case of dispute. A set of agreed documents is often found in industries where contracting processes are undertaken in a quite repetitive way and where products or services sold are relatively homogenous. Standardizing and thereby rationalizing the otherwise quite extensive purchasing work as such, is of course an overall purpose, combined with the aim to minimize costs within the buyer-seller system, created by experienced uncertainty. Facility management, construction, transportation, manpower leasing and software subscriptions are examples of industries all using a well established set of standard agreements.
Agreed documents in Forestry
Also in Norway, a similar work was finished in late 2009. Contact Standard Norway for more information.