The phrase «executive agreement» is commonly used in political and business contexts. It refers to a binding agreement between two or more parties that is made through the executive branch of government or a company`s upper management.

An executive agreement is different from a treaty, which is an agreement made between two or more countries that is ratified by their respective legislative bodies. Executive agreements do not require congressional approval and can be used to address a wide range of issues, such as trade, defense, and environmental policy.

For example, the United States has entered into executive agreements with other countries on topics ranging from nuclear non-proliferation to the sharing of intelligence information. These agreements can be useful for addressing urgent issues that cannot wait for the lengthy process of treaty ratification.

In the business world, executive agreements are often used to establish partnerships or joint ventures between companies. These agreements can outline the terms of the collaboration, such as the division of profits and responsibilities, and can help ensure that all parties are on the same page.

It`s important to note that executive agreements are legally binding and should be approached with the same level of diligence and care as any other type of contract. Any agreement should be reviewed by legal experts to ensure that it meets all necessary requirements and protects the interests of all parties involved.

In summary, the phrase «executive agreement» refers to a binding agreement made through the executive branch of government or a company`s upper management. These agreements can address a wide range of issues and are legally binding. Any agreement should be reviewed by legal experts to ensure that it meets all necessary requirements and protects the interests of all parties involved.