GlossaryEN1 min readUpdated: Jun 22, 2026
Agreement
The practical value of an agreement lies in making mutual rights and obligations binding between two or more parties, providing a legal framework for predictable conduct.
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Source: https://en.wikipedia.org/wiki/Agreement_(law)
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Logistics Concept
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Definition & Explanation
The practical value of an agreement lies in making mutual rights and obligations binding between two or more parties, providing a legal framework for predictable conduct. In freight and logistics, agreements operate at multiple levels: intergovernmental treaties establish traffic rights, tariff preferences, or liability regimes across entire industries, while commercial agreements between forwarders, shippers, and consignees define freight rates, service-level commitments, and quality standards. The terms of an agreement ultimately determine who bears liability for loss, damage, or delay. Well-known examples in international transport include the CMR Convention governing road freight and the Montreal Convention for air cargo. Depending on context, the term may be further qualified as convention, treaty, or framework contract.
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