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 ?
The heads of agreement was signed during the three-day official visit of Omani Sultan Qaboos bin Said Al Said to Tehran.
The signing of the heads of agreement followed the approval and release in August this year of the grid impact study (GIS) for the Nabas wind farm.
said "Today we signed heads of agreement and thereafter further details will be incorporated, following discussions to take place in the near future".
Explaining his decision to vote with the Council dissenters, Grace said: 'Despite acknowledging many of the positive points and the need to reach an agreement with the elite clubs, I could not agree to such an open-ended Heads of Agreement without further opportunities to review it.
Politically, it has been the setting for the most comprehensive analysis in Australia of a region's natural and cultural resource base and potential -- the Cape York Peninsula Land Use Strategy (CYPLUS) -- and the stage for the landmark Cape York Heads of Agreement.
Ampal understands further from EMG that the Heads Of Agreement includes various provisions designed to avoid adverse economic impact to EMG; that the two sides have committed to a good faith intensive effort to conclude the development of the Heads Of Agreement into an amendment to the GSPA; but that there is no assurance that the negotiations will be completed or that the outcome will not adversely affect EMG.
Origin Energy Limited (Origin) today announced that it has signed a non-binding heads of agreement with ENN LNG Trading Company Limited for the supply of 500,000 tonnes of LNG per year for a period of five years.
3 October 2013 - Oil giant Rosneft OAO (MCX:ROSN) said it had signed heads of agreement with Swedena[euro](tm)s Lundin Petroleum AB (STO:LUPE)A to purchase a 51% stake in Lundin's majority-controlledA Russian joint venture Petroresurs LLC.
International Resource News-December 5, 2011--InterOil Corporation signs Heads of Agreement with ENN Energy Trading Company Ltd(C)1994-2011 ENPublishing - http://www.
Perth, Australia, Jan 11, 2010 - (ABN Newswire) - Bauxite Resources Limited (ASX:BRL) (PINK:BXRDF) is pleased to announce that it has today signed a Heads of Agreement with Yankuang Corporation (Yankuang) for the joint development and ownership of an alumina refinery in the south west of Western Australia.
8 announced that it has entered into a second supplement to the 2003 Heads of Agreement with the Government of The Bahamas enabling KZL to proceed with the next major phase of development at its flagship property, Atlantis, Paradise Island:
In its election campaign in 1996, the Howard government promised $40 million to advance the Cape York Heads of Agreement.