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 first MoU between Axis Bank and the Indian Army was signed in 2011 and was renewed on March 24, 2015.
The MoU for promotion of tourism was signed by Pakistan Tourism Development Corporation Chairman Chaudhry Abdul Ghafoor and Maldivian Minister for Tourism Promotion Musa Zamir.
aACAo MOU on Cooperation in Agricultural Research and Education between the Indian Council of Agricultural Research and the University of Copenhagen, Faculty of Science, Denmark
In a relevant development last month, Iran's Industrial Development and Renovation Organization (IDRO) and Russia's Gazprom Company signed an MoU to broaden their cooperation on oil and gas explorations.
MoU on cooperation in the field of energy - the MoU was signed by the Minister of Power and Industries of the State of Qatar Mohamed Bin Salih Al Sada and Sri Lankan Deputy Minister of Power and Renewable Energy Ajith P.
The fourth MOU was signed in the field of training and development of scientific research in fertilisers between Gulf Chemicals and Industrial Oils Company President Abdulrahman A.
MoU in the field of Audio-Visual Co-Production was signed by Mr.
A number of states recently have also adopted mutual MOUs agreeing to share worker reclassification information for unemployment, workers' compensation, income tax, and wage-hour law enforcement purposes.
The Speaker said that the fourth MoU signed with Ocean Group of China, which already has its presence in Pakistan, a 150 energy production project will be launched in interior of Sindh.
Oman and Iran signed on Wednesday a series of memorandums of understanding (MoU) in various fields, including security, power generation, economy, and education, the pan-Arab daily ASHARQ AL AWSAT reported Thursday.
Bahrain Stock Exchange has signed cross-listing agreements and MoUs with several stock markets regionally and internationally.
While the A380 had its industrial launch in 2001, Airbus was gathering MOUs and LOIs through 2000 from Emirates, ILFC and Air France before Singapore Airlines and Qantas committed to the aircraft in late 2000.