Memorandum of Understanding

A Memorandum of Understanding (MOU) is a document outlining the formal agreement between two or more parties who agree to do or not to do certain things in future.  It is a document that brings together the thoughts and expectations between the parties. A Memorandum of Understanding is also known as “Letter of Intent”. It is made when two or more parties outlining the rights and obligations of the parties to the agreement are into initial discussions. It is used to gauge the intention of the transacting parties before a deal is officially signed between them

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