How to Write a Memorandum of Understanding (MOU)? It describes the principal terms of a proposed agreement and signals that a binding contract is imminent. You can use an MOU to document the commitment of one party to do business with another. What is a Memorandum of Understanding (MOU)?Ī Memorandum of Understanding (MOU) is a written document that outlines a preliminary agreement between two or more parties regarding the terms of a potential purchase, negotiation, or other transaction.
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