Protocol: 一般指為某種可能發生的事件或情況而準備的行動方案。比如：Emergency Response Protocol就是中國報道災難新聞時一定會提到的“某政府啟動了應急預案”。Agreement：是協議/合同最常用的叫法。大多數的英文合同都以“Agreement”命名。比如：Security Agreement (擔保協議), Deposit Account Control Agreement (帳戶控制協議)以及Share Subscription Agreement(認股協議)。Contract: 指法律上“合同”的概念。比如：The document constitues a binding contract upon the signing parties。 商務環境裡一般不會用Contract來命名合同，因為這個詞帶有對抗性，不如Agreement來的委婉。Agreement創造的語境是雙方合作，互惠互利。而用到Contract這次詞時，一般都是出了問題，一方想用合同這個概念制約另一方。國內一些銀行用Loan Contract來命名貸款協議是會被人鄙視的。正確的翻譯是Credit Agreement。Draft: 一般指草稿。例如：Draft Share Subscription Agreement = 認股協議草稿。不過Draft在銀行法裡還有另一個意思: 如果A寫了張條子，命令B(一般是銀行)把一定數目的錢給C, 這張條子叫做Draft，也就是匯票。

Where the words"subject to contract “ are used this means the parties to an agreement are not legally bound until a contract has been executed.Even though the parties have agreed terms,the matter effectively remains in a state of negotiation.Furthermore,either party can withdraw from the transaction without liability.