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Thanks everyone for all your help - it was a bit of an "alpahbetti spaghetti, this one! And I am sure the different variants are used interchangeably.
The text says: "Constituye el objeto del presente Contrato la regulación de la colaboración entre “el Banco” y el Grupo para promover la celebración de contratos de factoring entre el banco y determinados proveedores del Grupo y que reúnan unas características tales que faciliten su compatibilidad con las prácticas de negocio del Grupo".
I found two definitions that helped clear things up:
1) At http://www.constructingexcellence.org.uk/tools/frameworkingtoolkit/whatis.jsp - "What is a Framework?
Definition: A framework is an agreement with suppliers to establish terms governing contracts that may be awarded during the life of the agreement. In other words, it is a general term for agreements that set out terms and conditions for making specific purchases (call-offs)."
2) At http://www.bedfords.net/products-1136468025.html - "Where the parties have a continuing relationship based on a large volume of business under regular orders, the most efficient way to proceed is to enter into a Framework Supply Agreement which regulates the mechanism for placing orders and decides in advance the terms and conditions which will govern each order."
While Master Supply Agreement" Googles very well, too, I decided to stick to a translation that was closer to the original (whilst also being in common usage). I also feel that in the context this is more of a "framework" than a "master".
Many thanks everyone, esp Henry. 4 KudoZ points were awarded for this answer