what is exclusive agreement
Definition. An agreement between a principal and an agent that binds them exclusively to each other in contracting purchase arrangements for specific goods or services. The agreement is usually specific to a stated time period and a geographic region or market.efinition. An agreement between a principal and an agent that binds them exclusively to each other in contracting purchase arrangements for specific goods or services. The agreement is usually specific to a stated time period and a geographic region or market.