Answer :
Final answer:
A contract between Starbucks Coffee and Juan Valdez coffee farms for the purchase of all necessary coffee beans for a year is identified as a requirements contract, which secures a steady supply and supports long-term business relations.
Explanation:
The contract described between Starbucks Coffee and Juan Valdez coffee farms, where Starbucks agrees to purchase 'all the coffee beans Starbucks needs for the next twelve months', is known as a requirements contract. In a requirements contract, the buyer agrees to buy, and the seller to sell, whatever quantity of goods or services the buyer needs for a set period. These types of contracts are common in the business world, especially when it comes to ensuring a steady supply of materials. They support long-term business relationships and provide stability for both the buyer and the supplier.
An example similar to this contractual agreement is seen in development projects like the partnership between Blue Harvest, Keurig Dr Pepper, and the Inter-American Development Bank's SAFE Platform that aimed to improve water supply to bolster the agricultural economy in El Salvador.
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