Tenancy agreement

 

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Tenancy agreement

An agreement (lease) whereby land/property is leased by the owner (lessor) to a tenant (lessee).



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Reciprocal trade agreement

Reciprocal trade agreement

Agreement between two countries to open their markets to each other's exports, usually by each reducing tariffs. Early trade rounds under the GATT consisted mostly of reciprocal trade agreements, extended to other contracting parties by the MFN requirement.


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