Gentlemen`s agreements have come to regulate international activities as the coordination of monetary or trade policies. [13] According to Edmund Osmasczyk in the United Nations Encyclopedia and International Agreements, it is also defined as “an international term for an oral and unwritten but fully valid agreement.” [14] This type of agreement may allow a nation to circumvent national legal requirements to enter into a formal contract[13] or it may be useful for a government to want to enter into a secret agreement that does not engage the next government. [15] According to another author, all international agreements are gentlemen`s agreements because, just before the war, they are all unenforceable. [15] Osmaczyk noted that there was a difference between gentlemen`s open agreements and secret diplomatic agreements. [14] In the United States, in 1890, the prohibition of gentlemen`s agreements was introduced in interstate trade relations because the secrecy of these agreements was beyond anyone`s control. [14] In many cases, the end result may be a higher cost or lower quality products for consumers. Worse, a gentlemen`s agreement can be used as a means of promoting discriminatory practices, as in a “network of old boys.” A gentlemen`s agreement is an informal agreement or transaction, often unwritten, which is supported only by the integrity of the other party to effectively comply with its terms. Such an agreement is generally informal, oral and not legally binding. In 1890, the U.S. government imposed a ban on gentlemen`s agreements in trade and trade relations between nations. Under international law, agreements between custodians of bodies in different states that have not had a legally binding effect on states are referred to as gentlemen`s agreements. They always have a commitment effect based on good manners.

In their effects-results, they have statements of political intent (always reversible definitions of political orientation) and codes of conduct (non-binding recommendations of a given standard behaviour). [10] A classic gentlemen`s agreement is the final act of the Helsinki CSCE. [11] Another case may also be reserved for traders if the contractors believe that it is sufficient to reach a general agreement whose organisation in detail will be overwhelmed by the commercial decency of both parties, without the parties acquiring questionable rights. [4] According to the Hanseatischen Oberlandesgericht these non-binding agreements between traders are not uncommon.