Framework Agreement
/ˈfreɪmwɜrk əˈgriːmənt/
Definitions
- (n.) A preliminary agreement establishing the terms and conditions that will govern future detailed contracts or negotiations between parties.
The parties signed a framework agreement to outline their collaboration before finalizing specific contracts.
- (n.) A non-binding agreement that serves as a basis for future binding agreements, often used to coordinate ongoing relationships or transactions.
The framework agreement set the general principles but did not impose binding obligations on either party.
Forms
- framework agreement
- framework agreements
Related terms
See also
Commentary
Framework agreements often provide flexibility and reduce negotiation time for subsequent contracts, but their binding nature depends on precise wording and jurisdictional interpretations.
This glossary is for general informational and educational purposes only. Definitions are jurisdiction-agnostic but reflect terminology and concepts primarily drawn from English and American legal traditions. Nothing herein constitutes legal advice or creates a lawyer-client relationship. Users should consult qualified counsel for advice on specific matters or jurisdictions.