Performance Agreement
/pər-ˈfȯr-mən(t)s ə-ˈgrē-mənt/
Definitions
- (n.) A legally binding contract outlining specific obligations and performance standards between parties, often in employment, service, or contract law contexts.
The parties entered into a performance agreement to ensure delivery of the project milestones on time.
Forms
- performance agreement
- performance agreements
Related terms
See also
Commentary
Performance agreements are typically drafted to clearly specify duties, standards, and consequences of non-performance, helping minimize disputes.
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.