This article explains how an MOU works, how it differs from an agreement, and what to think about before signing one. What is a MOU? An MOU is fundamentally a pre-contractual document that outlines an “in principle” understanding between future contracting parties in anticipation of an agreement. In particular, an MOU is used when parties … Read More “Memorandum of Agreement: What do you think?” »
Category: Memorandum Of Understanding
Memorandum Of Understanding
Memorandum Of Understanding
Usually, a MOU involves two or more parties signing a formal agreement.While it is not a legal agreement, it could establish a business relationship between the parties, which might lead to a legally enforceable contract. All essential instances shall be documented upon mutual agreement between the parties. As a formal document, it expresses the parties’ … Read More “MOU Drafting Steps” »