Primo Nutraceuticals Inc BUGVF

binding or non binding agreements

[EDMINNEMA]

Of all the types of legal jargon, this one is actually quite straightforward: binding means you're legally obligated to something, whereas nonbinding means you aren't. For example, a decision made in "binding" arbitration proceedings will be final and enforceable by the courts, but a "nonbinding" arbitration decision could be reversed by a later court proceeding or in binding arbitration. Sign a binding contract, and the other party can take you to court if you don't do something you said you'd do. Nonbinding documents, by contrast, are really just information. They are intended to clarify and explore the terms of a deal.