oboloo Glossary

Temporary Agreement

oboloo Glossary

Temporary Agreement

A Temporary Agreement is a legal contract between two or more parties that outlines the terms of a specific agreement to complete a given task or project. It sets out the details of who will do what, when and how, and often contains clauses relating to rights and liabilities in case one party fails to fulfill their end of the bargain. Typically, a Temporary Agreement will also include an expiration date (or “term”) that dictates when the agreement ends – usually after the task or project has been completed. Overall, Temporary Agreements can provide legal protection to all parties involved while providing clarity on objectives, expectations and deadlines.