exchange of contracts Meaning in the Cambridge English Dictionary
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Meaning of “exchange of contracts” in the English Dictionary

"exchange of contracts" in Business English

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exchange of contractsnoun [C or U]

uk   us  
PROPERTY a ​finalagreement between the ​buyer and ​seller of a ​property, after which the ​sale cannot ​legally be ​stopped: Before ​exchange of ​contracts either the ​seller or the ​buyer can ​withdraw without having to make any ​payment.
(Definition of exchange of contracts from the Cambridge Business English Dictionary © Cambridge University Press)
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