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 ?
According to ANSAmed, the agreement followed by a Head of Agreement, HoA, signed in January 2019.
A Head of Agreement (HOA) towards formalising a unitisation arrangement for Malaysia s Kinabalu West NAG field and Brunei s Maharajalela North Panel field
The Head of Agreement (HOA) between Petronas and the Natinal Unitisation Secretariat of Brunei Darussalam unitized the arrangement for Malaysia's Kinabalu West NAG field and Brunei's Maharajalela North Panel field.