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 ?
The MoUs were endorsed between Iran's Oil Ministry and Russia's Gazprom in Tehran on Wednesday in the presence of Iran's Oil Minister Bijan Namdar Zangeneh and Gazprom CEO Alexei Miller.
MoU in the field of exchange of financial investigations - MoU was signed by the head of Qatar's Financial Information Unit (QFIU) Ahmad bin Eid al-Thani and the Director of the Financial Intelligence Unit of Sri Lanka H Amaratunga
The MoU, inked this April, was facilitated by Al Bilad Bank, and a real estate fund was established by Al Bilad for the purpose.
Dr Al-Hajraf said, "The Capital Markets Authority is pleased to sign the MoU with the QFC Regulatory Authority.
The eleventh MOU was signed between the Bahrain Business Women Association and Egyptian Business Women Association.
The MoU was signed by former Turkish Minister of Education Eumer Dincer and his Iranian counterpart, Hamid Reza Haji Babaei.
The IRS and 37 states have existing data-sharing MOUs as part of the Questionable Employment Tax Practices (QETP) program.
The idea of signing an MoU in the field of education was mooted during a Malaysian technical mission to Iran on April 15, 2008 headed by Education Ministry secretary-general Tan Sri Dr Zulkurnain Awang.
Of the 60% polled believed the inking of the MOU would positively influence financial exchanges between the two sides and 53.2% said it would help the development of Taiwan's financial industry.
In addition, another MoU was signed to organize the development of economic relations between the two countries.
From Hariri's standpoint, the MoU was to divide Lebanon's Sunnis just as Hizbullah's February 2006 MoU with Maronite leader Gen Michel Aoun split the country's Christian community and subsequent events led to Hizbullah's 34-day war with Israel which ended on Aug.
AMMAN (Star)--Princess Sumaya University for Technology (PSUT) and Coventry University signed a memorandum of understanding (MoU) on March 20, 2007, in the presence of Chairperson of PSUT's board of trustees, HRH Princess Sumaya.