Meaning of the word "mutual understanding" in English

What does "mutual understanding" mean in English? Explore the meaning, pronunciation, and specific usage of this word with Lingoland.

mutual understanding

US /ˈmjuːtʃuəl ˌʌndərˈstændɪŋ/
UK /ˈmjuːtʃuəl ˌʌndəˈstændɪŋ/

Noun

a situation in which two or more people understand each other and agree on something

Example:
There needs to be mutual understanding between the two parties for the negotiation to succeed.
Their long friendship was built on trust and mutual understanding.