You are the project manager of the HJK project for your organization. You and the project team have created risk responses for many of the risk events in the project. A teaming agreement is an example

Transference shifts the negative impact of a risk entirely to a third party through mechanisms like insurance or fixed-price contracts, without sharing the upside or ongoing collaboration.

Acceptance means the project team acknowledges a risk and decides either to deal with it if it occurs (passive) or prepares a contingency plan (active), without involving an external partner.

Mitigation involves taking actions to reduce the probability or impact of a risk before it occurs, not forming a collaborative agreement with another party.

Sharing involves allocating partial ownership of a risk or opportunity to a third party that is best positioned to handle it, with both parties jointly accepting the outcomes. A teaming agreement formalizes this joint ownership of project risk and opportunity between organizations. PMBOK specifically cites teaming agreements and joint ventures as examples of the Sharing response strategy.