Memorandum of Understanding Template Agreement

In every business transaction, there is always the need to come to a specific agreement concerning that particular business being transacted. As a matter of fact, most people often have a lot of disagreements when there is nothing like a set of memorandum of understanding present. This sort of agreement is so crucial that, without it, there will be a lot of problems in that particular transaction. It is due to this that, several templates of memorandum of agreement are often present for people to imitate.

image Memorandum of Understanding Template Agreement often follows a particular pattern though there may still be some variation from one agreement to the other. It is therefore imperative to mention that, though they may follow similar patterns, they are not the same. When one actually takes a closer look at one of these agreements, it will be realized that, the first thing to talk about is the set date. Most templates of agreement usually possess date as the first thing. The date actually informs many or those who are neutral to know the exact date the whole transaction started. Of course it is necessary to have a particular date as a reference point and as such this is important. To make things easy and straight to the point, below is an example of a memorandum of understanding;

Memorandum of Understanding

Between

Company A

And

Company B

The two companies of this particular memorandum of understanding agree perfectly to the following agreements;

Agreement 1; Purpose and Scope

Agreement 2; Conditions and Arrangements

Agreement 3; Timing

Agreement 4; Future Cooperation

The two parties have agreed to the fact that, everything discussed on this memorandum of understanding will continue to be so until the whole deal is done to satisfaction.

Signature A;………………………………… Signature B;…………………………..

For and on behalf

Of…………………………………

For and on behalf

Of…………………………………………

Date…………………………………………….

It is appropriate to state that, most memorandum of understanding is usually a success due to the fact that they follow a particular criterion which is usually so helpful.