agreements in principle
Preliminary conceptual understandings
Agreements in principle are preliminary accords on major points before final details are settled.
The phrase signals that parties have reached consensus on fundamentals but haven't yet worked out specifics or signed binding documents: We have an agreement in principle, pending review by legal.
In mortgage contexts, an agreement in principle is a lender's conditional statement of how much they'd be willing to lend, subject to full application.
- termsConditions of an agreement
- term sheetPreliminary deal conditions document
- letter of intentPreliminary agreement expressing commitment
- contractEnforceable written agreement
- accordHarmony between parties
negotiation · consensus · understanding · pact · good faith · meeting of minds · commitment · promise · arrangement · deal · closing the deal · handshake deal · covenant · memorandum of understanding · offer · business partnerships · bargaining · mediation
agreements in principledisagreements
Failures to concur
walkouts · irreconcilable differences · deadlocks · deadlock · impasses
agreement, agreements, principle, principles, agree, agrees, agreed, agreeing, disagreement