bilateral

Bilateral means two-sided and is frequently used to refer to agreements between two countries. For example, the United States and Australia have a Bilateral trade agreement limiting tariffs or other protectionist policies between the two nations.

Additionally, the doctrine of consideration means that a contract generally must be bilateral to be enforceable.

Alternatives to bilateral include unilateral and multilateral .

[Last reviewed in July of 2022 by the Wex Definitions Team ]

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