Which of the following best describes a 'call-off contract'?

A call-off contract is best described as a flexible contract that allows for orders to be placed as needed. This type of contract is often used in scenarios where the buyer does not want to commit to a specific quantity of goods or services upfront but instead wants the ability to make orders as demand arises. Call-off contracts are particularly advantageous in situations where the demand may fluctuate, providing the buyer with the necessary flexibility to respond to changing needs without being tied to a predetermined quantity.

This arrangement benefits both parties: the supplier can maintain a continuing relationship with the buyer, while the buyer can manage their resources and budget more efficiently based on actual needs rather than forecasts. This flexibility is the key characteristic that distinguishes call-off contracts from other types of contractual arrangements that involve fixed quantities or terms.