Memorandum of Understanding Template

It is often great when business partners are able to put down a set of Memorandum of Understanding between them so that, they can easily follow that as a reference to their agreement. As a matter of fact, this is very necessary since it prevents future misunderstanding between people. However, it is imperative to mention that, this memorandum of understanding template usually has particular information so relevant on it which then serves as evidence to the transaction.

Memorandum of Understanding Template Most at times, the memorandum of understanding template has, the date of the memorandum of understanding. It will be agreed that, any business transaction should definitely have a date it started and as such this is very crucial when considering a template of memorandum of understanding. Again the situations of the parties involved should be described vividly so that any one reading will actually know and understand perfectly their relationship towards one another. In addition to that, it should be clearly stated the contribution of each party on the deal, before and after as all these information are very relevant in case of any bridge of contract whatsoever. Below is a typical example of a set of memorandum of understanding template.

Memorandum of Understanding Template

Between

Company A

And

Company B

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

Agreement 1; Purpose and Scope

Agreement 2; Conditions and Arrangements

Agreement 3; Timing

Agreement 4; Future Cooperation

This present memorandum of understanding is basically to serve as a witness to this splendid arrangement and is therefore very important and however can be altered when both parties agree to that.

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

For and behalf

Of………………………………….

For and behalf

Of………………………………..

Date……………………………………

It is important to state that, most people often prefer to be safeguarded in their businesses and therefore will always require a memorandum of understanding no matter the situation.