Definition, Meaning & Synonyms

definitive agreement

noun

dih-FIN-uh-tiv uh-GREE-muhnt

Definition

A definitive agreement is a legally binding contract that outlines the terms and conditions of a transaction, establishing the final commitments of the parties involved.

Examples

The parties signed a definitive agreement to complete the merger by the end of the fiscal year.
Once the definitive agreement was finalized, both companies began preparations for the transition.
The investors were pleased to receive the definitive agreement, as it provided clarity and a structured plan.

Meaning

It signifies the formal and final accord between parties, detailing the exact obligations, rights, and provisions agreed upon after negotiations have been conducted.