Meaning of “formalize” in the English Dictionary

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(Definition of “formalize” from the Cambridge Advanced Learner’s Dictionary & Thesaurus © Cambridge University Press)

"formalize" in American English

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formalizeverb [ T ]

us /ˈfɔr·məˌlɑɪz/

to make something official:

The trade agreement was formalized with Congress’s approval of the bill.

(Definition of “formalize” from the Cambridge Academic Content Dictionary © Cambridge University Press)

"formalize" in Business English

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formalizeverb [ T ]

UK also formalise uk /ˈfɔːməlaɪz/ us

to arrange something according to a fixed structure:

formalize a process/procedure/structure, etc. It is now widely acknowledged that with increasing size comes the need to formalize operations if a firm wishes to remain effective.
Despite the apparent contradiction, casual working in this sector is a highly formalized system of working.

to make something official:

(Definition of “formalize” from the Cambridge Business English Dictionary © Cambridge University Press)