Entered into a contract to deliver one of its specialty mowers to Crane Landscaping Co. A contract is a formal agreement between two or more parties that documents the terms of their business relationship.Campuses may use Form 7554-01 to solicit sealed bids at their discretion. This Agreement has been prepared for use with EJCDC® C-700, Standard General Conditions of the Construction. Contract, 2013 Edition. The contract is not "King" in outsourcing. These terms are a legal agreement and contain important information about your rights and obligations in relation to our Services. A contract is an exchange of promises. Each party promises to do (or not do) something. Order shall be necessary to complete the scope of work in the contract documents.