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 ?
Under the terms of the Heads of Agreement, the NIOC and the three project partners will now negotiate a 20-year contract in accordance with the technical and economic terms established in the Heads of Agreement, within the framework of the model Iran Petroleum Contract (IPC) that was recently approved by Iran.
Condor Chairman, Dr Paul Crosio, commented on the combined debt and project acquisition heads of agreements: "As Condor moves focus to highly prospective and near term assets we have had to leverage our near production asset Marianas and access the debt market.
Under the heads of agreement, both sides agreed to start the construction of the pipeline carrying Iran's gas to Oman in a short period.
A construction contract, which is expected to be signed following the heads of agreement, stipulated that PetroGreen Energy will engage Akelco to put up a single-circuit 69-kilovolt overhead interconnection line based on engineering design and transmission line components to be furnished by PetroGreen.
GenMark Diagnostics Inc (NASDAQ:GNMK) on Thursday announced that it has entered into a Heads of Agreement with Advanced Liquid Logic Inc (ALL).
Heads of agreement have been reached with the NHS Pension Scheme, the Principal Civil Service Pension Scheme, the Teachers' Pension Scheme and the Local Government Pensions Scheme, based on an improved offer made on November 2, said Mr Alexander.
Qatar's energy minister, Mohammed al-Sada, and Shell chief executive Peter Voser signed the heads of agreement in Doha.
The momentum on TAPI project negotiations picked up after mid 2010 and in December 2010 Inter Governmental Agreement (IGA), Gas Pipeline Framework Agreement (GPFA) and Heads of Agreement (HOA) were signed in Turkmenistan.
BHP Billiton and Leighton Holdings signed a heads of agreement in early August 2011 whereby BHP Billiton will acquire Leighton's HWE Mining subsidiaries, which provide contract mining services to BHP Billiton's Western Australia Iron Ore operations.
In 2008, he signed a heads of agreement with the MoO for the development of gas capturing and utilisation in the southern oilfields.
The two countries signed the Heads of Agreement and certain condition precedents to make the Gas Sales Purchase Agreement (GSPA) effective, The Daily Times reports.
ISLAMABAD, March 16, 2010 (Frontier Star): Pakistan and Iran signed the Heads of Agreement (HOA) and (Operational Agreement)OA in Istanbul, Turkey, which was earlier finalized and initialled by ISGS and NIOC.