UM glossary terms

Browse full definitions for every UM term in the Amicus glossary.

Umbrella Agreement

/ˈʌmbrɛlə əˈɡriːmənt/

Definitions

  1. (n.) A master contract that outlines general terms and conditions governing multiple related agreements or transactions between parties.
    The companies signed an umbrella agreement to streamline their future contracts.
  2. (n.) An overarching agreement intended to provide a framework for subsequent, more specific contracts.
    The umbrella agreement set the stage for detailed negotiations on individual projects.

Forms

  • umbrella agreement
  • umbrella agreements

Related terms

See also

Commentary

Umbrella agreements are useful in complex transactions to establish common terms and reduce repetitive negotiations across multiple contracts.

Umpire

/ˈʌmˌpaɪər/

Definitions

  1. (n.) A neutral third party appointed to resolve disputes in arbitration or legal proceedings.
    The parties agreed to submit their dispute to an umpire for a final decision.
  2. (n.) An official who oversees and enforces rules in certain types of contracts or agreements, especially in arbitration clauses.
    The umpire’s decision in the contract dispute was binding on both parties.

Forms

  • umpires

Related terms

See also

Commentary

In legal contexts, an umpire typically serves as a neutral decision-maker distinct from arbitrators or mediators, often stepping in when parties cannot agree on an arbitrator or when an arbitration panel reaches a deadlock.

Glossary – UM Terms