Memorandum of Understanding

(redirected from Memorandums of Understanding)
Also found in: Dictionary, Medical.

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 ?
Memorandums of Understanding between the International Training and Research Center of the Ministry of Health and Medical Industry of Turkmenistan, the Korean Institute of Medical Industry Development and the Clinic of the National University Gyeongbuk University (Republic of Korea)
'With the signing of 15 memorandums of understanding and six investment commitments, it is expected that the sentiment of overseas business players towards the national market will be better,' he said in an official statement received on Monday (9/10).
These included memorandums of understanding on import of LNG and PoL products from Indonesia, trade facilitation, additional protocol to Preferential Trade Agreement for 20 new tariff
TUNIS (TAP)- The works of the Tunisian-Egyptian high joint committee were crowned, Tuesday in Tunis, by the signing of 11 co-operation programme, 4 memorandums of understanding in several fields and a draft programme of co-operation in the field of information between the Tunisian Radio and Television Corporation and the Egyptian Radio and Television Union.
ISTANBUL, Dec 25, 2010 (TUR) -- Turkey, Afghanistan and Pakistan have signed four protocols, two memorandums of understanding and a letter of intent to cooperate with each other in seven areas.
In July, FTB participants in a tax shelter symposium indicated that they are considering additional memorandums of understanding that would include other IRS divisions.
And in the presence of HRH the Crown Prince and the Prime Minister of Pakistan, seven bilateral agreements and memorandums of understanding were signed between the two countries on technical cooperation, an agreement to finance the supply of quantities of crude oil and petroleum products to Pakistan, a framework of a memorandum of understanding to finance a power generation projects in Pakistan, a memorandum of understanding
HH the Amir and the Croatian president witnessed the signing of a number of agreements and memorandums of understanding between the governments of the two countries.
During his visit, Minister Baird announced the following projects and signed the following memorandums of understanding: