"exchange promises" is correct and can be used in written English.
For example, "The two friends exchanged promises to keep in touch after they parted."
"As the new administrator, we plan to return credibility, trust and integrity to Libor, by bringing the essential combination of strong regulatory framework and market-leading validation techniques, administered by a pre-eminent market infrastructure provider," the exchange promises.
One is moved by self-interest to give the promising sign (in order to obtain the other party's cooperation), and once one has given it, self-interest demands that one do what one promised to do so as to insure that people will exchange promises with one in the future.
A singles themed gift exchange promises to deliver stories that are great candidates for best man/maid of honor speeches down the road.
The exchange promised to improve its regulation and then tried to cover up its failure to do so.
But the developer was granted the same tax breaks offered to owners of privately owned buildings and in exchange promised to give the tenants the benefits of rent stabilization as long as the tax breaks continued.
At that time, the exchange promised that Mr. Grasso's compensation would be disclosed in the future but it did not reveal that he was owed an additional $48 million in accumulated benefits from past service.
If you're having trouble deciding, or simply like this idea, ask the recipient if they would like to exchange promise rings, then talk together about selecting a matching pair.
If your partner is hoping for a marriage proposal, either use a less culturally significant piece of jewelry or make the decision to exchange promise rings in advance so you don't disappoint them with a misinterpreted surprise.
WASHINGTON — The United States and China inaugurated two days of high-level talks on Monday, exchanging promises of great-power cooperation on weighty issues like climate change while steering clear of potential conflicts over exchange rates and human rights.
If you were of age — fourteen for boys, twelve for girls — and if you either exchanged words of mutual consent in the present tense ("I take thee as my husband," "I take thee as my wife") or exchanged promises of future consent ("I will take thee," etc).
Cordial goodbyes were exchanged, promises to hit each other up delivered, and I was soon on my way hoping to never sit across from someone who chews with their mouth open again.
