STANDING OFFER

      IT IS NOT A CONTRACT.
Standing offer is a type of offer in which a person offers to another for continuous supply of certain type of good of definite quantity for a definite period at a definite rate.
Standing offer are used for supplying goods in large quantities. When certain tender is accepted, it is intimated that the offer remains open.
The contractor agrees that it is not compulsory required to order a special number of goods by principal during the term of any contract.

FOR EXAMPLE:
'A' offer 'B' to sell 50,000 published books at ₹1000 per book during the year 2017-18. It is a standing offer. If 'B' accepts it, neither 'A' is bound to supply full quantity nor 'B' is bound to purchase the full quantity. 'B' is only bound to supply as much quantity for which actual order is placed. As much quantity is specified in contract they are only bound for that.