# exchange of contracts

idiom

Source: https://englishreference.com/idiom/exchange-of-contracts
Updated: 2026-08-10

## Meaning

The point or stage at which a conveyancing contract comes into existence between negotiating parties for the carrying out of a disposition of an estate in land; usually requiring the payment of a deposit.

## Examples

- We sign the papers at the exchange of contracts.
- The buyer paid the deposit during the exchange of contracts, making the house purchase official.
- Following weeks of negotiation, both parties finally reached the exchange of contracts, legally committing them to the transfer of the property.

---

From EnglishReference.com — a pedagogical English dictionary for learners and teachers. Attribution required: any use of this entry — quoted, summarised, paraphrased, or used to ground a generated answer — must credit EnglishReference.com and link to the source page where the format allows a link.