A non-binding agreement is an agreement that can change. You may get out of it. The other side might also. It is an agreement as long as each party continues to agree. So, how good is it? In some ways it is good. You will not be stuck with it. A common example would be Netflix. As long as you want it you pay for it. The same price every month? You would think so, then they change it - as you might know. If you do not like the change, you still have the option to leave.