Memorandum of Understanding


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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 ?
Memorandum of Understanding on the Tourism Infrastructure Development Project
Memorandum of understanding between the Egyptian and Tunisian governments regarding the issue and renewal of employment permits.
To assist Affiliate leaders as they work toward approving the memorandum of understanding, CoA leaders will sponsor two conference calls in April, Davis Moss said.
Before council passed the motion to negotiate a memorandum of understanding, Paul Graham, who is in charge of public works for Greater Sudbury, made a detailed presentation in which he estimated the cost of the project to be $86 million and anticipated annual revenues will be $12 million.
As part of the memorandum of understanding, the Dormitory Authority provided MBOC with a small grant to develop comprehensive outreach and technical assistance programs to inform minority and women-owned businesses on current and proposed contract opportunities.
Although there are a number of technical and administrative matters that must be addressed to implement a harmonized system - indeed there are a plethora of transitional issues affecting all taxpayers (and some industries such as retailers of consumer goods and services may be more acutely affected than others) - we believe that the announcement of the Memorandum of Understanding is a good first step.
The Memorandum of Understanding, announced on October 19th 2006, is a non-legally binding agreement and is subject, inter alia, to clearance from the UK competition authorities, negotiation of definitive documents and lender consent.
Carsten Spohr, Chairman of the Executive Board and CEO of Deutsche Lufthansa AG, and Song Zhiyong, President and Executive Director of Air China Limited, signed a memorandum of understanding to enhance the commercial partnership as part of a joint venture, during the Chancellor s visit to China.
In his turn, the King of Bahrain said he was glad to sign a memorandum of understanding between Bahrain and Kazakhstan.
ISTANBUL, Oct 24, 2010 (TUR) -- Turkey and Britain on Saturday signed a memorandum of understanding for cooperation in environment chapter in Turkey's European Union accession talks.
At the same meeting, the council will consider a memorandum of understanding with California State University, Fresno, that calls for the city to provide nearly $400,000 to help equip the center.
In 1999 (De Beers) signed a memorandum of understanding with the Attiwapiskat First Nation," Fraser says.

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