General Agreements

General Agreements are formal understandings or contracts between parties that outline their commitments and expectations. They establish the terms of cooperation, rights, and responsibilities without necessarily detailing every specific action. Common in business, such agreements provide a framework for collaboration, helping to prevent misunderstandings and manage risks by clearly defining the scope, duration, and obligations involved. Essentially, they serve as legal or informal agreements that guide relationships and ensure all parties are on the same page regarding their mutual arrangement.