MOU

MOU agreement is a formal agreement between two parties. It is signed by companies and organizations to establish official relationships. When should you use the Understanding Memorandum? The parties can enter into an MOU if they require something more than a verbal promise and less than a formal agreement. The MOU is a legal agreement of severity between the parties. A memorandum can be used to help parties move towards a formal contract, and non-profits could sign it as they are considered less threatening than the formal agreement. Objective A typical MOU outlines the terms and conditions of formal relationships…