Agreement (noun)

1. The action or fact of agreeing or being in accord.
2. A negotiated and typically legally binding arrangement between parties as to a course of action.
3. An arrangement between parties in which they reach a mutual understanding.

Origin:

Middle english from old french agreement, from agreer "to please", from a- (from latin ad "to, at") + greer "to please" from latin gratus "pleasing".

Examples:

1. The agreement between the two countries was signed yesterday.
2. The agreement was made on the condition that the payment would be made on time.
3. They came to an agreement on how to divide the property.
4. The agreement was reached after long negotiations.
5. The new agreement will come into effect next month.