What type of contract involves an exchange of goods and services for a specified amount of compensation?

The correct answer is the vendor contract, which is specifically designed to formalize the relationship between a buyer and a seller, where goods or services are exchanged for agreed-upon compensation. This type of contract outlines the specifics of the transaction, including the quantity and quality of goods or services being provided, the timeline for delivery, and the payment terms. It ensures that both parties understand their obligations and helps prevent disputes.

In contrast, a service agreement primarily focuses on the provision of services rather than the exchange of physical goods. While there is compensation involved, the emphasis is on the service aspect. A non-disclosure agreement is used to protect confidential information and does not involve compensation for goods or services. Lastly, a lease agreement governs the rental of property or equipment and involves payment for the use of that property, but it does not directly pertain to the exchange of goods and services as a vendor contract does.