Negotiated Agreement

A Negotiated Agreement is a mutual understanding reached between two or more parties through discussion and compromise. It involves each side presenting their needs and preferences, then working collaboratively to find a solution that satisfies everyone involved. This process often includes concessions, where parties may give up certain demands to achieve a more favorable outcome overall. The goal is to create a binding agreement that acknowledges the interests of all parties while promoting cooperation and preventing future conflicts. This type of agreement can apply to various contexts, including business deals, labor contracts, and conflict resolution.