oboloo Glossary

Exclusive Agreement

oboloo Glossary

Exclusive Agreement

An exclusive agreement is a contractual arrangement between two or more parties that sets out the terms under which each party will provide goods and services to the other. With an exclusive agreement, each party agrees not to do business with any other entity for those specified goods and services during the contract period. This type of agreement provides more control over the goods and services provided than other types of arrangements, but it also restricts competition among suppliers. It’s important to understand the implications of limiting competition before entering into an exclusive agreement.