A contractual agreement is a legally binding document that outlines the terms and conditions between two or more parties. It specifies the obligations, responsibilities, and expectations of each party involved in order to achieve a common goal or objective. The agreement usually covers details such as the scope of work, payment terms, timelines, and any other relevant aspects of the relationship between the parties. Contractual agreements are used in various settings including business transactions, employment relationships, and legal disputes. They help to minimize misunderstandings and provide a clear framework for resolving conflicts that may arise during the course of the agreement.