Engagement refers to a promise or agreement between two parties. It can be a contract where both parties make promises to each other. It can also refer to the period after a couple agrees to get married but before they actually do. This is also called betrothal or betrothment.
Contract engagement involves defining the service to be exchanged, the compensation for the transaction, and the terms defining the length of the relationship. These three components are fundamental to defining the relationship and setting the expectations and rules of engagement.
An engagement or betrothal is the period of time between the declaration of acceptance of a marriage proposal and the marriage itself (which is typically but not always commenced with a wedding).
An engagement contract, sometimes called an engagement letter, is a formal legal declaration of intent to do business or ""engage"" with another party. This agreement is typical in attorney, contractor, and financial advisor relationships with clients.
What Is an Engagement Letter? An engagement letter is a written agreement that describes the business relationship to be entered into by a client and a company. The letter details the scope of the agreement, its terms, and costs. The purpose of an engagement letter is to set expectations on both sides of the agreement.