Memorandum of Understanding Draft

To be able to agree to a common thing is always very necessary when considering a lot of matters. This explains why most business transactions cannot operate properly when there is nothing serving as a source of witness. It is always nice to have something like an agreement which aid will facilitate a lot of things when considering them into details. It is therefore appropriate that, the so called business partners try to draft something in a form of agreement or a set of memorandum of understating which will serve as some sort of guide towards the whole deal.

Memorandum of Understanding Draft There are several ways to draft a set of memorandum of understanding. But another way to draft this is as follows; in the first place, there should be a portion whereby the date of the transaction is clearly stated. This date is very crucial since it marks the beginning of the deal and besides it enables a lot of people to understand what exactly is going on should they have access to it. As a matter of fact, any agreement which is expandable by all and sundry certainly is a good agreement. The next point of importance is that, there should be a clear description of the business transaction. This is usually something brief just to inform anyone who might have access to it. But it is usually written in a way that, it is highly understandable and therefore there is nothing to confuse anybody. Below is a typical example of a memorandum of understanding draft.

Memorandum of Understanding

Between

Party A

And

Party B

It is well understood by the two parties that, they will all pay heed to this memorandum of understanding and hence the following messages should be adhered to.

Message 1; Purpose and Scope

Message 2; Conditions and Arrangements

Message 3; Timing

Message 4; Future Cooperation

It is important for each member of the transaction to truly pay attention to this guide so that the aims of the two parties will be accomplished.

Signature;…………………………. Signature;……………………………..

For and on behalf

Of;………………………………………

For and on behalf

Of;……………………………………..

Date;……………………………………