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An agreement reached by means of mutual concession is called a compromise. In a compromise, each party involved makes concessions to reach a mutually acceptable solution, balancing their interests and needs. This approach often helps to resolve conflicts and facilitate cooperation between differing viewpoints or parties.

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What is early harvest agreement in international trade agreement?

Early harvest refers to the mutual reduction in tariffs on few products prior to entering into a full fledged free trade agreement.


What is a win win situation in conflict resolution?

A win-win situation is when both parties resolve and agree on a mutual agreement


What is Collateral management?

Collateral Management: Collateral means , mutual agreement. Collateral Managemet is a line of busineed in banking sector , each investor will have collateral agreement on some mutual transaction. One of the example, Equity Derivatives. It provides interface to enter collateral data, and it has a master data of collateral descriptions and types. It maintains customer, collateral, and credit account relationships so the amount of idle collateral can be determined. It is usually packaged in an application or part of the core-banking application.


What is the system where goods are traded for other goods called?

The system where goods are traded for other goods without the use of money is called bartering. In a barter system, participants exchange products or services directly based on mutual agreement of value. This method was commonly used before the advent of currency and is still practiced in some communities today. Bartering can facilitate trade when money is scarce or in localized economies.


When you promise to exchange something of value for something else of value is what?

When you promise to exchange something of value for something else of value, it is called a contract or a mutual agreement. This arrangement typically involves a legal obligation where both parties agree to fulfill their respective commitments. The exchange can involve goods, services, or other forms of compensation. Such agreements are fundamental in business and personal transactions.

Related Questions

Art of coming to an agreement by mutual concession?

you tell me!!


What is compromise in tagalog?

In Tagalog, the word for "compromise" is "kompromiso." It refers to an agreement or settlement reached by mutual concession, where both parties make concessions to resolve a disagreement or conflict. The concept emphasizes finding a middle ground to achieve a solution that is acceptable to all involved.


How do you use the word agreement in a sentence?

The politicians made an agreement on how to establish a new University in the city.


What is a settlement reached by mutual concessions called?

compromise


An agreement between two government entities for mutual support to one another in time of emergency is called?

Mutual Aid and assistance Agreement


Which one of the sentences contains an unnecessary word?

After a long disagreement, the leaders of the two nations reached a mutual agreement between them.


When was the mutual agreement signed between the Western countries in Europe?

The mutual agreement signed between the Western countries in Europe was signed in the year 1948. The name of the mutual agreement signed between the Western countries in Europe is called the Treaty of Brussels.


What is the meaning of concession in tagalog?

In Tagalog, the term "concession" can be translated as "kompromiso" or "pahintulot." It refers to an agreement or allowance made in negotiations where one party gives up something to reach a mutual understanding. This concept often involves yielding some demands or terms to facilitate resolution or cooperation.


What is the noun for the word agree?

The noun form of the word "agree" is "agreement." It refers to a mutual understanding or arrangement between parties. An agreement can be formal, like a contract, or informal, such as a consensus reached in a discussion.


What are the release dates for By Mutual Agreement - 1913?

By Mutual Agreement - 1913 was released on: USA: 19 May 1913


What does compromise mean and try to keep it simple?

Compromise means settling a disagreement by mutual concession.


What was Franklin Pierce's position on mutual concession?

He believed that compromise was sometimes necessary in a republic. He was willing to look for mutual concessions in the conflicts over slavery.