The agreement is binding on both parties.

协议对双方具有约束力。

youdao

The arbitration shall be final and binding on both parties.

仲裁为终局裁决，对双方当事人均有约束力。

youdao

The arbitration award shall be final and binding on both Parties.

仲裁结果将为最终结果，对双方均有约束力。

youdao

On the most immediate challenge, working out an arms control agreement to replace the START I treaty which expires December 5, the two presidents signed a joint understanding for a follow-on agreement to START that commits both parties to a legally binding treaty that will reduce nuclear weapons.

CNN: Obama moves to bolster U.S.-Russia ties