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Memorandum of Understanding
(redirected from Memoranda of understanding)

   Also found in: Wikipedia 0.01 sec.
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.


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BAGHDAD, Oct 15, 2009 (TUR) -- Turkish and Iraqi officials signed Thursday several memoranda of understanding on many areas from security to energy.
It intends to sign memoranda of understanding with the US chamber of commerce and industry.
 
 
 
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