Consortium agreement

Consortium agreement,

Definition of Consortium agreement:

  1. Reciprocal arrangement in which the members of a group of firms undertake to help each other in case of an emergency, such as sharing their facilities with a member who suffers a disaster or is under a threat.

How to use Consortium agreement in a sentence?

  1. I really agreed with and even admired the consortium agreement that made people look out for one another in case of a disaster.
  2. You may want to make sure that any consortium agreement you make is met with a contract so everyone must abide to it.
  3. ABC Company has a consortium agreement with XYZ Company and Ajax Incorporated so their costumers will suffer minimal loss of service in the event of a hurricane or other natural disaster.

Meaning of Consortium agreement & Consortium agreement Definition