Umbrella Agreement
/ˈʌmbrɛlə əˈɡriːmənt/
Definitions
- (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.
- (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.
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.