Nonformal agreements can be referred to as informal agreements, unwritten agreements, or verbal agreements. They are agreements that are made without any legal documentation or formal process. Another synonym for nonformal agreements is handshake agreements, which is based on trust and mutual understanding between the parties involved. They can also be known as understandings, arrangements, or informal deals. Nonformal agreements are often used in personal and professional settings, such as between friends, colleagues, or business partners, where a formal contract is not required. It is important to note that nonformal agreements are not legally binding, and may not have the same level of protection as a formal contract.