An Annual Rate Contract (ARC) for electrical works is a common procurement mechanism used by government bodies, large corporations, institutions (like hospitals, universities), and even housing societies to manage their ongoing electrical maintenance, repair, and minor installation needs. Instead of issuing a separate tender for every small electrical job that arises throughout the year, they enter into a long-term agreement with a qualified electrical contractor (or multiple contractors) at pre-agreed rates for a defined scope of services and materials.