collateral agreement

Definition of "collateral agreement"
  1. It's an arrangement that is related to another larger written contract, yet maintains its separate and independent existence
How to use "collateral agreement" in a sentence
  1. The company entered into a collateral agreement to ensure additional safeguards beyond their primary contract.
  2. The lessee and lessor negotiated a collateral agreement to cover any damages not captured in the main lease agreement.
  3. In addition to the employment contract, the employee signed a collateral agreement to protect the company's intellectual properties.

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