Dictionary of Procurement Terms

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Search Results: 1-1 of 1 result for “Voluntary Restraint Agreement (VRA)”
  • Voluntary Restraint Agreement (VRA)

    An agreement to reduce the volume of trade in a specific good; a voluntary quota. An example would be an OPEC agreement to curb the production and exportation of crude oil. A critical indices for global supply managers that may have a dramatic effect on cost/price. (ISM, 2000)