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 memo of understanding outlined a plan for the Port of Corpus Christi and Cuban food import agency Alimport to increase purchases by Alimport of farm products under contracts with regional suppliers.
The Chinese Ambassador has affirmed the keenness of his country to strengthen its cooperation with Sudan in the judicial field and provide every support to boosting the cooperation and to reactivate the memo of understanding between the Sudanese Judiciary and the Supreme Court in China.
KUWAIT -- A Memo of Understanding (MoU) to be signed between the Central Apparatus for Information Technology and the Ministry of Education for establishing Information Technology in education project and develop infrastructure for communication at the ministry.
Tehran, SANA- Syria and Iran signed on Tuesday a memo of understanding in the field of health and therapeutic cooperation.
They in addition inked a memo of understanding allowing the state carrier of either country to fly directly to the other, without any operational barriers.
16, "A memo of understanding was signed to erect a clean electricity project, another for building a 100 MW power station, a 300 thousands ton garbage disposal plant and a plant to manufacture plastics and chemical fertilizers.
But the LAPD's Valley Bureau is working on a memo of understanding with the ATF to trace all seized guns, said Deputy Chief Mike Bostic of the Operations Valley Bureau.
OTC Bulletin Board: GLIF) announced today that it has entered into a Memo of Understanding (MOU) with Israel-based Diagnostic Technologies Ltd.
The two countries also signed a memo of understanding for cooperation in the field of mining, and agreements in the fields of agriculture, forests, education, tourism, environment The Sudanese and Turkish sides have signed a protocol of cooperation between the Sudanese and Turkish Broadcasting and TV Corporations, in addition to a memo of understanding in the field of small and medium-scale works.
The two sides agreed to sign a memo of understanding that includes the projects that CBS intends to implement.
The Angola Board of Pubic Works approved a memo of understanding between the Metropolitan School District and Angola Police Department of Steuben County for a school resource officer.
Management has been working to conclude the Memo of Understanding with the Chinese steel company.