A concord, or agreement, is a mutual understanding or arrangement between two or more parties. It often outlines the terms and conditions that all involved must follow, ensuring that everyone is on the same page. Concords can be formal, like contracts, or informal, such as verbal agreements. In legal contexts, a concord may refer to a specific type of settlement that resolves disputes without going to trial. This can help save time and resources for all parties involved. The goal of a concord is to achieve harmony and cooperation, reducing the likelihood of future conflicts.