open-ended agreement
nounUK /ˌəʊpən ˈɛndɪd əˈɡriːmənt/
US /ˌoʊpən ˈɛndɪd əˈɡriːmənt/
An open-ended agreement is a deal that has no set end date.
The two companies signed an open-ended agreement to keep sharing ideas.
RELATED WORDS
OTHER MEANINGS
2. A deal that lets either side change the terms later.
Their open-ended agreement allowed them to adjust prices each year.
3. An arrangement with no fixed limit on how long it lasts.
The volunteers worked under an open-ended agreement with the city.
4. A promise that can grow or change as needs arise.
The open-ended agreement covered future projects too.