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Gatekeeper Contract and Vendor Management Glossary

Search common contracting language and take a deeper dive to discover what each means

Contractual Agreement

A contractual agreement is also simply known as “contract.” A contractual agreement is a legally-binding agreement entered into by two or more parties.

The phrases 'Contract' and 'Contractual Agreement' are often used interchangeably, along with 'Agreement'. 

It's important to note that 'Agreement' has a legal significance that differs from 'Contractual Agreement'.

Rather than being legally-enforceable, agreements lack formalities required to be a contract.

If any issues arise, they are not contestable in court. 

An agreement is usually shown from a signature, which can be electronic or wet. 

All agreements can be stored centrally and securely in Gatekeeper.