commercial contract
Trade binding arrangement
A commercial contract is a legally binding agreement between businesses or between a business and another party, governing the exchange of goods, services, or money.
Unlike consumer contracts, commercial contracts typically involve parties presumed to have equal bargaining power and business sophistication: The company reviewed the commercial contract before signing with the supplier.
Terms often cover payment schedules, delivery obligations, warranties, and remedies for breach.
- termsConditions of an agreement
- standard termsCustomary contractual provisions
- fine printMiniature contractual text
- counteroffersRevised terms in negotiation
- bargaining powerAdvantage in negotiations
boilerplate language · conditions · force majeure · material breach · clauses · good faith · obligations · arbitration · service agreements · warranties · mediation · confidentiality · consideration · due diligence · indemnities · penalty clause · jurisdiction · enforceability
commercial contracthandshake deal
Unwritten mutual commitment
gentleman's agreement · verbal agreement · word of honor · tacit understanding · implied agreement
commercial contractgovernment contract
Agreement with a state entity
treaty · social contract · marriage contract · employment contract · social compact
commercial contractexecutive order
Binding directive from leadership
decree · edict · fiat · mandate · proclamation
commercial, contract, commerce, commercials, commercially, commercialize, commercialized, commercialization, commercialism