Heads of Agreement

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Heads of Agreement

An informal agreement between two parties seeking to form a partnership outlining the rights and responsibilities each would have in the partnership. Heads of agreement are intentionally vague and are usually the first step toward a full contract. Negotiations continue after the MOU is signed. Heads of agreement are similar to a memorandum of understanding for partnerships, but heads of agreement are not enforceable in a court of law, unlike an MOU. See also: Handshake Agreement.
References in periodicals archive ?
A Head of Agreement (HOA) towards formalising a unitisation arrangement for Malaysia s Kinabalu West NAG field and Brunei s Maharajalela North Panel field.
TSX:RNG)(AMEX:RNO) ("Rio Narcea" or the "Company") is pleased to announce that further to the Head of Agreement press release of December 17, 2004, the Company has signed a definitive joint venture agreement with Compania de Minas Buenaventura, S.
IGRC") announced today that they had, pursuant to the Head of Agreement signed on 30 March 1996, entered into an Arrangement Agreement to effect the Arrangement contemplated thereunder.