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The phrase "mutually acceptable agreement" is correct and commonly used in written English.
It means an agreement that is acceptable to all parties involved. Example: After weeks of negotiation, the two countries finally reached a mutually acceptable agreement on the trade deal.
Exact(15)
We will continue to talk with the appropriate authorities to reach a mutually acceptable agreement.
It is clear what the outlines of any mutually acceptable agreement must be.
But while they labored over a mutually acceptable agreement, the hardest part - trying to enforce it - comes now.
A spokesman for Mr. Liechti said Mr. Liechti hoped continuing discussions with the bank would result in a "mutually acceptable agreement".
"From our point of view, there should not be a situation in which the will of parties to reach mutually acceptable agreement is affected".
"If the parties are unable to reach a mutually acceptable agreement, computing the amount of a service-related reduction is typically a question for a judge to decide".
Similar(43)
It was also mentioned that it was helpful that the care group had multiple mutual obligations with the health insurer because these interdependencies increased the pressure for both parties to reach mutually acceptable agreements.
If we find a mutually acceptable arrangement with the Russians to move beyond the treaty, fine.
This would, of course, be subject to both parties reaching a mutually acceptable confidentiality agreement on customary terms.
They must pay all their football creditors in full, unless mutually acceptable compromise agreements are put in place.
It is definitely give and take on both sides to reach a mutually satisfactory agreement.
More suggestions(15)
mutually acceptable plan
mutually acceptable price
mutually acceptable relationship
mutually acceptable landing
mutually acceptable deal
mutually unsatisfying agreement
mutually respectful agreement
mutually acceptable arrangement
mutually acceptable stand-off
mutually acceptable way
mutually binding agreement
mutually amicable agreement
mutually acceptable consensus
mutually acceptable solution
mutually acceptable time
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Since I tried Ludwig back in 2017, I have been constantly using it in both editing and translation. Ever since, I suggest it to my translators at ProSciEditing.

Justyna Jupowicz-Kozak
CEO of Professional Science Editing for Scientists @ prosciediting.com