A Basic Agreement Between Two Parties is an official business document that outlines the terms and conditions of a working relationship between two or more entities. It details the rights, obligations, expectations, and responsibilities of each party before they enter into an agreement. This type of document serves as a beneficial reference point if either side should choose to take legal action, ensuring that all parties are aware of their roles and liabilities. By creating a legally binding agreement, both sides will be able to have trust and confidence in the relationship that they are entering.