Memorandum of Understanding (MOU)

A memorandum of understanding which is virtually a set of agreements where people come together to do something of importance and hence put an agreement on paper which serves as a source of reference or evidence and this evidence can be called upon anytime there is a bridge of contract or any thing related to that. This agreement therefore helps prevent future misunderstandings and its related issues.

Memorandum of Understanding (MOU) It is worthwhile to mention that, a memorandum of understanding (MOU) is often appropriate especially when monetary matters are involved. Money as we all know is really something that can make all of us to have a negative mind and hence causing confusion everywhere. One major advantage of this sort of agreement is that, it makes both parties that are undertaking the business deal to truly appreciate and respect one another when the need arises. There is no need to actually be afraid when there is a document that can prove vividly exactly what happened. As a matter of fact, this is one of the advantages of this find agreement that business men cannot do without. It is therefore crucial that some importance is attached to it appropriately. To make this precise, below is an example of a memorandum of understanding.

Memorandum of Understanding

Between

Company C

And

Company D

This particular memorandum of understanding is meant for the achievements of the two companies and therefore the two companies are willing to achieve their aims

Article 1; Purpose and Scope

Article 2; Conditions and Arrangements

Article 3; Timing

Article 4; Future Cooperation

It is therefore the duty of the two companies to see to it that, the aims are achieved and nothing else.

Signature;…………………………… Signature;………………………………

For and on behalf

Of;……………………………….

For and on behalf

Of;……………………………………..

Date;…………………………………………..

Every memorandum of understanding is achievable provided the right thing is done and at the right time.