What does “Agreement In Principle” mean?
"Agreement In Principle" means an initial agreement or understanding that has been reached, but is not yet final or binding.
What context can I use the in?
Example
The two parties have reached an Agreement In Principle on the terms of the contract.
Example
We have an Agreement In Principle to move forward with the project, but the details still need to be worked out.
Example
The negotiations have resulted in an Agreement In Principle, but it will still need to be approved by the board
Is “Agreement In Principle” an expression, an idiom, or a proverb?
“Agreement In Principle” is a proverb. A proverb is a short saying that teaches us something important or gives us advice. Unlike an idiom, it’s easy to understand even if it uses figurative language.
How would I use “Agreement In Principle” effectively in context?
You can use "Agreement In Principle" to describe a preliminary agreement or understanding that has been reached, but is not yet final or binding. It implies that the parties involved have agreed on the general terms or principles of an agreement, but the specific details still need to be worked out. For example, if two companies are negotiating a partnership, they might announce that they have reached an "Agreement In Principle" on the key terms, but the final contract is still being drafted and reviewed by legal teams.
- 1Business
The two parties have reached an Agreement In Principle on the terms of the contract.
- 2Project
We have an Agreement In Principle to move forward with the project, but the details still need to be worked out.
- 3Negotiation
The negotiations have resulted in an Agreement In Principle, but it will still need to be approved by the board.
Similar phrases to “Agreement In Principle”:
An initial agreement or understanding that has been reached, but is not yet final or binding.
Example
They have a preliminary agreement on the main terms of the deal.
A mutual agreement or comprehension of a situation or topic.
Example
There is an understanding between the parties regarding the scope of the project.
Good things to know:
Where does the phrase “Agreement In Principle” come from?
The origin of the phrase "Agreement In Principle" is unknown.
Is “Agreement In Principle” common in everyday conversation?
Yes, "Agreement In Principle" is a commonly used expression in everyday conversation, especially in business and legal contexts. It is often used to indicate that progress has been made in negotiations or discussions, but a final agreement has not yet been reached.
What tone does “Agreement In Principle” have?
"Agreement In Principle" conveys a tone of temporary agreement and ongoing negotiation. It suggests that while there is a level of agreement on the general terms or principles, further discussion and refinement are still needed before a final agreement can be reached.
Can “Agreement In Principle” be used in informal and formal settings?
Yes, "Agreement In Principle" is a formal expression commonly used in business, legal, and professional settings. It is appropriate for use in formal conversations, meetings, contracts, and written correspondence.
Can it be used by itself, or is it usually part of a sentence?
It is commonly used as part of a sentence to convey its full meaning. For example, 'The two parties have reached an Agreement In Principle on the terms of the contract.' However, in informal conversations, people might understand the phrase even if used alone, like saying 'We have an Agreement In Principle' to imply a preliminary agreement.
Synonyms & Antonyms
Synonyms
- provisional agreement
- conditional agreement
- working agreement
- interim agreement
- non-binding agreement
Antonyms
- contract
- settlement
- resolution
- final agreement
- binding agreement
