Memorandum of Understanding

(redirected from MOU)
Also found in: Dictionary, Thesaurus, Medical, Acronyms, Encyclopedia, Wikipedia.

Memorandum of Understanding

An agreement between two parties, usually two companies, outlining the rights and responsibilities each has for a particular venture or project. A memorandum of understanding is intentionally vague and is usually the first step toward a full contract. Negotiations usually continue after the MOU is signed. However, an MOU is more formal and legally binding than a handshake agreement and is enforceable in a court of law.
References in periodicals archive ?
Our air-based technology is well suited for gas reserves in the two-to-five trillion cubic foot range which are the targets of the MOUs.
The IRS-DOL MOU could expand the information going to the states to include DOL referrals.
Of the 60% polled believed the inking of the MOU would positively influence financial exchanges between the two sides and 53.
While the A380 had its industrial launch in 2001, Airbus was gathering MOUs and LOIs through 2000 from Emirates, ILFC and Air France before Singapore Airlines and Qantas committed to the aircraft in late 2000.
The City Charter calls for all city departments to communicate with the councils, and that's 90 percent of what the MOU does,'' he said.
If either party fails to meet its commitments established in the MOU, the LIFE process will be terminated.
To access an online copy of the NIST/ANSI MOU, go to the World Wide Web at http://ts.
The MOU will facilitate greater innovation at the local level between IHS, tribal, urban, and VA programs.
Further, the MOU discusses taxpayer disclosures, the Service's method of requesting information and alternative dispute resolution options for unagreed issues.
David Russell, agreed: "We see this MOU as the beginning of a positive and continuing relationship with the Wahgoshig community.
Each regulator will be able to rely on the MOU to ensure compliance with applicable legislation and to collaborate in regulating inter-jurisdictional dealings as well as share technical know-how and joint training in enhancing the credibility of financial markets and protect investor rights.
The MOU provides for Nordic Biotech II K/S or affiliates and co-investors (Nordic) to make an AU$5.