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 ?
Another two MOUs were signed by Afnan Rashid Al--Zayani, a representative of Al-Zayani Commercial Services (AZCS), and head of Super Solar Solutions Company, Ayman Rasekh, and Wafik Shamma, a representative of Taya IT enterprise.
This MOU is consistent with Governor Schwarzenegger's bioenergy agenda for California.
The parties to the MOU believe that the product developed using Grant's technology can distinguish these cancer-causing proteins from those made by non-cancer-causing HPV-types.
The MOU contains the terms of a take-or-pay gas supply contract with the Georgian State, secured against appropriate bank guarantees, in which CNL will supply gas from Kumisi based on a pricing formula under which gas is initially supplied at a Contract Price of US$ 55 per thousand cubic metres (US$ 1.
The current MOU extends the scope of services and has been converted to a joint MOU through the inclusion of Mitsubishi Corporation as a signatory.
Terms of the MOU also call for the collaborative development of a treatment for rabies, a generally fatal disease.
The MOU is a statement of the mutual intent of the parties, and is not legally binding.
Subject to the fulfillment of certain conditions set forth in the MOU, Seidel will become the President and CEO of UGSI and a member of the Board of Directors.
Syntroleum signed a MOU with the Government of Papua New Guinea to examine the development of a 50,000 barrels per day GTL plant as part of an industrial complex dedicated to gas-based industries near the capital city of Port Moresby.
completing said proposed financing or proceeding with the Option under the MOU.
Manitou Capital shares are listed for trading on the TSX Venture Exchange under the symbol MOU.
Commenting on the MOU with the DRC, Jeff Greenblum, Chairman of the Board of EnerGulf stated, "We are planning a very aggressive exploration program that will begin upon the execution of the Concession that is being formalized.