long term contract
- agreementShared position between parties
- bindingLegally or morally required
- commitmentFirm pledge to act
- leaseTemporary use contract
- tenureProtected employment status
obligation · renewal · termination · clause · negotiate · signing · duration · employment · mortgage · partnership · perpetual · locked-in · stability · security · renegotiate · breach · penalty · escrow
formality and binding nature
long term contracthandshake deal
Unwritten mutual commitment
gentleman's agreement · verbal agreement · at-will employment · memorandum of understanding · implied agreement