Common Contracts
1 similar Mou Agreement contracts
Mou agreement pdfMou Agreement • June 23rd, 2021
A memorandum of understanding, or MOU, is defined as an agreement between parties and can be bilateral (two) or multilateral (more than two parties). The MOU serves as an expression of aligned will between the parties in question and depicts the intent of a common line of action.The MOU, although a formal document, is not legally binding. It merely shows the willingness of each concerned party to take action to move the contract forward. In addition, an MOU brings about the definition of the purposes and scope of negotiationsNegotiation.Hence, the document serves as the foundation for negotiations. Such types of agreements are commonly used in business opportunity negotiations and discussions and treaty negotiations.SummaryA memorandum of understanding (MOU) is defined as an agreement between parties and can be bilateral (two) or multilateral (more than two parties).In order to prepare a complete and effective document (MOU), the parties affected must first reach an understanding accep
