Exchange of Contracts
nounex·change of con·tractspronounced eks-CHAYNJ ov KON-trakts
Last reviewed 16 April 2026
What does the noun Exchange of Contracts mean?
The point at which both buyer and seller have signed identical copies of the contract of sale and those copies have been formally exchanged. This creates a binding legal agreement. Before exchange, either party can walk away without penalty.
How the noun Exchange of Contracts is used
Once exchange of contracts happened on Friday afternoon, we knew the deal was locked in and started organising our building inspection.
Related words
Cite this entry
MLA citation: "Exchange of Contracts." How to Property, 16 Apr. 2026, https://howtoproperty.com.au/definitions/exchange-of-contracts. Accessed 29 May 2026.
Chicago citation: How to Property. "Exchange of Contracts." Last modified April 16, 2026. https://howtoproperty.com.au/definitions/exchange-of-contracts.
APA citation: How to Property. (2026, April 16). Exchange of Contracts. https://howtoproperty.com.au/definitions/exchange-of-contracts